Commercial banking

The top executive at Royal Bank of Canada expressed reluctance about expanding south of the border again, citing what he characterized as a changing regulatory landscape and pointing to lessons learned from the 2015 acquisition of City National Bank.

Provisions for credit losses rose 7% in the third quarter, which was less than other Canadian banks have reported. The Toronto-based company also benefited from the first full quarter of results from the unit it acquired from HSBC.

The top five have more than $2.6 trillion in combined securities as of March 31, 2024.

The Canadian lender's cushion for potential credit losses nearly doubled in the third quarter, while its U.S. business idled.

The Bank of Nova Scotia increased its provisions for potential credit losses in the third quarter and said its KeyCorp stake would provide a hefty return on investment.

The third-largest Canadian bank's proposed minority stake in KeyCorp is an unconventional way to generate more U.S. revenue. Analysts say it's a less risky approach than buying an American bank outright.

The stock prices of banks that have large exposure to commercial real estate loans surged after comments from Federal Reserve Chair Jerome Powell. His remarks could be a sign that relief is coming on both sides of those banks' balance sheets.

The North Carolina-based bank doubled in size in 2022 and again last year, when it acquired the failed Silicon Valley Bank. It has used consistency to outperform peers.

The military-focused company, which operates an insurer and a $111.7 billion-asset bank, has tangled with regulators during Wayne Peacock's tenure. He will retire in the first half of 2025.

Royal Bank of Canada's onetime chief financial officer was allegedly in a relationship with an executive in the bank's corporate treasury group for more than a decade. A court filing offers a remarkably detailed look at how the bank alleges it played out.