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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …