Business BankingFinancial Analytics

CIBC’s Innovation Framework wins for supporting development of new banking tools and programs

TORONTO, ON–CIBC has won a 2021 BIG Innovation Award, presented by the Business Intelligence Group. The annual business awards program recognizes organizations, products and people around the world that are bringing new ideas to life in innovative ways. The CIBC Enterprise Innovation team received an Organization Award for its Innovation …

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Business BankingPayment Processing

Scotiabank 1st to Offer Real-Time Payments in Canada through Interac e-Transfer for Business

Business service allows the ability to send & receive real-time payments using a recipient’s account number or email address TORONTO, ON–Scotiabank is the 1st financial institution in Canada to offer real-time payments for all business banking customers using flexible routing options like an account number or email address, using Interac …

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Business BankingGovernment News

RBC clients can now access the Export Development Canada Business Credit Availability Program

The EDC BCAP Guarantee fee of 1.8% will be deferred for clients for the first six months TORONTO, ON–RBC announced the launch of the Government of Canada’s Export Development Canada (EDC) Business Credit Availability Program (BCAP). The EDC BCAP provides eligible mid-sized and large RBC business clients with a loan …

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Business BankingIndustry TrendsMarket Research

Women entrepreneurs who apply for business loans are more likely than men to be approved, Scotiabank survey finds

On its first year anniversary, The Scotiabank Women Initiative™ releases new survey findings, expands program to Global Banking and Markets (GBM) TORONTO, ON–Women entrepreneurs who apply for business loans may fare better than they expect, according to survey results released today by Scotiabank on the first anniversary of The Scotiabank …

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Business BankingEntrepreneursMarket Research

CFIB Survey asks “Where do Canada’s small businesses bank?”

RBC, Scotiabank remain the most used banks by entrepreneurs, but smaller institutions gained ground TORONTO, ON–With a market share of 20 per cent, Royal Bank of Canada continues to be the most used bank by small and mid-sized businesses while the smallest businesses, those with fewer than five employees, primarily …

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Business BankingEntrepreneurs

CIBC adds 200 specialized advisors, new technology to support Canadian entrepreneurs

TORONTO, ON–CIBC added more than 200 business banking specialists in the last 18 months in support of its relationship-based strategy that focuses on helping business owners achieve their ambitions. In addition to expanding its dedicated business advisory teams, CIBC has equipped its advisors with market-leading tools to support entrepreneurs at …

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Business BankingBusiness Borrowing & Lending

Maple Leaf Foods, BMO Capital Markets make First Sustainability-Linked Loan in Canada

Reflects shared commitment to sustainable future and carbon neutrality TORONTO, ON–BMO Financial Group has provided Maple Leaf Foods Inc. with the first sustainability-linked loan in Canada. The amendment to the existing credit facilities will allow Maple Leaf Foods to reduce the interest rate on the lending facility if it meets …

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Business BankingFinancial ResultsIndustry News

Desjardins Group records surplus earnings of $570 million for the third quarter

$106 million returned to members and the community LÉVIS, QC–For the quarter ended September 30, 2019, Desjardins Group, Canada’s leading financial cooperative group, recorded surplus earnings before member dividends of $570 million, unchanged from the same quarter of 2018. These results were driven by a strong performance in the caisse …

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AIBusiness BankingEducation

Scotiabank Launches First Trusted Data & AI for Canadian Business Certification

TORONTO, ON–Scotiabank launched the first Trusted Data & AI for Canadian Business certification in Canada. In collaboration with Smith School of Business at Queen’s University, and the IEEE, the world’s largest technical professional organization advancing technology for humanity, the program is designed specifically for Scotiabank employees to develop foundational knowledge …

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Business BankingPaymentsPayments Business May-June 2019

INTERVIEW: BMO’s Haward-Laird on cross-border banking, payments

INTERVIEW By Brendan Read Canada and the United States have long been deeply connected financially with each other through trade, including investments, tourism and individual migration for work, education and also visits, like for shopping and for retirement. Canadians make and receive payments while in the U.S., and from and …

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