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Canadian Imperial Bank
05 октября, 00:12

Forget Deutsche Bank, Buy These 3 Foreign Banks Instead

While Deutsche Bank doesn't appear to be an attractive pick right now, there are a few other foreign bank stocks that have a better Zacks Rank and VGM score.

04 октября, 19:38

Canada's Fourth Largest Bank Erases $1 Billion In Excess Capital In Unexpected Accounting Gimmick

Early in 2016, when oil prices were plunging and when US banks were careful to push up their loan loss reserves to exposed E&P loans, we noted something surprising: Canadian banks had barely taken any loss reserves to their exposure in the oil and gas sector. As and RBC report calculated at the time, if they used the same average reserve level as that applied by US banks, Canadian banks' current loss allowance excluding RBC would surge from $170MM to over $2.5 billion, resulting in a substantial hit to earnings, and potentially impairing the banks' ability to service dividends and future cash distributions.   For months this discrepancy persisted even as oil remained well below last year's levels, leaving Canadian bank watchers stumped as to just how Canadian banks planned to pull this particular "Exxon" without suffering balance sheet impariment, until this morning when we may have gotten the answer how the local Canadian money centers "planned" to resolve this odd accounting gimmick. Today Bank of Montreal, perhaps the biggest violator of the loan loss reserve recongition, fell the most in two months after restating it restated its regulatory capital ratios for the first three quarters of the year. As Bloomberg first noticed, the shares slid 1.3% to C$84.72 in morning trade, the most intraday since July 27 and the worst performance in the eight-company S&P/TSX Composite Commercial Banks Index. The stock has gained 8.5 percent since Dec. 31. What was most notable about the restatement is that as one analyst calculated, the move was comparable to erasing C$1.3 billion ($1 billion) of excess capital at Canada’s fourth-largest lender. But before we get there, here is what happened: Bank of Montreal’s Basel III Common Equity Tier 1 ratio, an international measure of capital strength, was 10% for the third quarter, down from 10.5% for Q3, the company said Tuesday in a statement. The lender also restated its CET1 ratio for the first quarter, to 10 percent from 10.1 percent, and the second quarter, to 9.7 percent instead of 10 percent. Canaccord Genuity analyst Gabriel Dechaine quickly noticed the unexpected revision, and in a note to clientssaid that “this adjustment is tantamount to wiping out C$1.3 billion of excess capital for the bank," adding that the amount could have been used to buy back as many as 15 million shares or 2 percent of stock outstanding. “We can simply translate the elimination of C$1.3 billion of excess capital into forgone capital deployment upside." The revision means that Bank of Montreal’s regulatory strength now lags behind its domestic peers: Canadian Imperial Bank of Commerce, the country’s fifth-biggest lender, has the highest regulatory capital ratio, at 10.9 percent at the end of July, followed by Royal Bank of Canada, the nation’s largest lender, and No. 3-ranked Bank of Nova Scotia with 10.5 percent. Toronto-Dominion Bank, the second-biggest Canadian lender, has a regulatory capital ratio of 10.4 percent. However, if as we speculate the revision may have been prompted by the bank's unwillingness to account for souring bad loans, it is only a matter of time before Canada's other banks follow suit. As for BMO, the bank did not admit the actual reason for the restatement instead providing the following vague explanation: “We determined a need to amend our capital ratios and are correcting the record," according to spokesman Paul Gammal said. “There is no change to net income or shareholders’ equity and we are well capitalized."

27 сентября, 15:59

Canadian Imperial Bank (CM): Strong Industry, Solid Earnings Estimate Revisions

Canadian Imperial Bank (CM) is seeing solid earnings estimate revision activity, and is a great company from a Zacks Industry Rank perspective.

21 сентября, 12:00

Canada's CIBC forms strategic alliance with NAB, Bank Leumi

TORONTO, Sept 21 (Reuters) - Canadian Imperial Bank of Commerce, Canada's fifth-biggest lender, has formed a strategic partnership with National Australia Bank (NAB) and Israel's Bank Leumi to work on new innovations.

01 сентября, 17:07

5 Best Financial Stocks to Buy in September

Of late, the finance sector has been in news for the right reasons. So, we bring a handful of finance stocks that are expected to give good returns.

01 сентября, 16:44

Why You Shouldn???t Bet Against Canadian Imperial Bank of Commerce (CM) Stock

Canadian Imperial Bank of Commerce (CM) is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective

29 августа, 14:36

TD Bank's (TD) Upbeat Q3 Earnings Failed to Cheer Investors

The Toronto-Dominion Bank (TD) shares lost 1% since it announced the fiscal third-quarter 2016 (ended Jul 31) results on Thursday, before the opening bell.

26 августа, 22:34

Canadian Imperial (CM) Up as Q3 Earnings, Revenue Rise

Canadian Imperial (CM) inched up more than 1% on the NYSE following the release of its third-quarter fiscal 2016 earnings (ended Jul 31). Adjusted earnings per share came in at C$2.67, up from C$2.45 in the prior-year quarter.

Выбор редакции
04 августа, 09:00

За какую сумму продали СССР

Развал СССР как таковой начался с 1985 года, но основной удар пришелся на 1987 год, когда подразделения КГБ по распоряжению Горбачева, злоупотребляющего своими должностными полномочиями, стали заниматься не обеспечением государственной безопасности СССР, а внедрением доллара в хозяйственную деятельность и «вхождением в рынок», во взаимодействии с руководством США, Англии, Франции, Германии. В этот период в основу развития политического процесса […]

13 июля, 14:22

KeyCorp's First Niagara Deal Gets Fed's Nod: What's Next?

KeyCorp (KEY) announced the receipt of regulatory approval from the Federal Reserve for its proposed acquisition of First Niagara Financial Group Inc.

30 июня, 18:49

Canadian Imperial Bank Of Commerce Pushes Into US Market, Purchasing PrivateBancorp

In an effort to diversify its loan portfolio and expand into a market other than Canada, Canadian Imperial Bank of Commerce announced it will be purchasing Chicago, IL-based PrivateBancorp around $3.8 billion in cash and stock.

30 июня, 17:10

Company News for June 30, 2016

Companies In The News are: PVTB,SNE,ETE,WMB,BUFF

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30 июня, 14:50

CIBC приобретет PrivateBancorp за $3,8 млрд

Канадский кредитор Canadian Imperial Bank of Commerce (CIBC) приобретет американский банкPrivateBancorp с целью расширения своего бизнеса. Стоит отметить, что сумма данной сделки может составить $3,8 млрд наличными и акциями.

Выбор редакции
30 июня, 09:53

CIBC приобретет PrivateBancorp за $3,8 млрд

Канадский кредитор Canadian Imperial Bank of Commerce (CIBC) приобретет американский банкPrivateBancorp с целью расширения своего бизнеса. Стоит отметить, что сумма данной сделки может составить $3,8 млрд наличными и акциями.

30 июня, 09:49

Европа: быки отыграли практически все потери после Brexit. США: отскок рынка акций набрал обороты

В среду, 29 июня, по итогам торговой сессии ключевые фондовые индексы Европы снова продемонстрировали положительную динамику на фоне снижения опасений относительно последствий выхода Великобритании из состава ЕС, а также благодаря росту акций сырьевого сектора. Из важной макроэкономической статистики вчера в Германии был опубликован индекс потребительского доверия GfK, который в июле составил 10,1 пункта, тогда как аналитики прогнозировали 9,8 пункта. Также вышел немецкий предварительный индекс потребительских цен, который в июне подрос на 0,1%, тогда как аналитики ждали рост показателя на 0,2%.

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29 июня, 14:00

Canada's CIBC to pay $3.8 billion for PrivateBancorp, expand in U.S.

TORONTO (Reuters) - Canadian Imperial Bank of Commerce said it will buy Chicago-based PrivateBancorp Inc in a $3.8 billion cash-and-share deal, its biggest ever acquisition and a long-awaited...

28 июня, 15:35

Banco Santander Affirms 2016 Guidance amid Brexit Fallout

Banco Santander does not expect Brexit to have a material impact on its profits in 2016.

24 июня, 17:13

Deutsche Bank's Restructuring Plans in Germany on Track

Deutsche Bank AG (DB) disclosed detailed restructuring moves on Thursday for revamping the commercial and private banking business in Germany.

23 июня, 22:41

Credit Suisse (CS) Under Justice Dept. Probe

Legal hassles continue for Credit Suisse Group AG (CS) as the Swiss banking giant is under Justice Department scrutiny for its operations in Israel. US regulators are investigating the Zurich-based banking giant's procedures relating to handling of American clients.