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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Business BankingMergers

Vancity Community Investment Bank to Acquire CoPower to Scale Impact Finance Business

This will be the first acquisition of an impact investment firm by a Canadian bank Traditional territory of many Indigenous Nations, including the Haudenosaunee and the treaty territory of The Mississaugas of the Credit/Toronto, ON–Vancity Community Investment Bank (VCIB), Canada’s first values-driven bank and a subsidiary of Vancouver City Savings Credit Union (Vancity), today announced plans …

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Business BankingIndustry News

Alterna Bank debuts new website

OTTAWA–Alterna Bank has reached a milestone on its digital journey with the launch of its new website at www.alternabank.ca. This is yet another digital innovation from Alterna! The new website and the recently launched Alterna Bank mobile app use Forge, a digital banking platform designed by Central 1. “Our new …

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Business BankingWealth Management

Scotiabank establishes Global Wealth Management as formal business line,

Global Wealth Management uniquely positioned for growth TORONTO–Scotiabank is establishing Global Wealth Management (GWM) as a distinct business line, given its significant scale, double-digit asset growth over the last few years, and strong continued contribution to all-Bank earnings. “Establishing Global Wealth Management as a distinct business line is a testament …

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Business BankingCredit Unions

Alterna Bank’s Digital Small Business Banking Solution Strategy Allows Focus

OTTAWA–This week, in celebration of Small Business Month, Alterna Bank provided limited release of their Digital Small Business Banking solution. Created in partnership with nCino – a leader in transformative financial digital solutions – Alterna Bank now offers a streamlined business account opening process that is available 24/7, online and …

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