Top executives at the Bank of Montreal and Scotiabank separately referred to the Canada-U.S. trade situation as “manageable”, reports Jeff Lagerquist at CBC News.
Canada’s largest lenders started reporting third-quarter financial results this week. Bank of Montreal and Scotiabank were first to report on Tuesday. National Bank issues its results on Wednesday, followed by the Royal Bank of Canada, Toronto-Dominion Bank and CIBC on Thursday.
Speaking on a post-earnings conference call with stock market analysts, Scotiabank chief executive Scott Thomson called the recent trade volatility “manageable,” as he spelled out bright spots in Canada’s economy.
“The fundamentals in Canada are pretty good,” Thomson said. “If you look at the job growth numbers, if you look at the fiscal capacity on the back of oil prices and if you look at some of the activity that’s starting because of the prime minister’s agenda, you actually have a backdrop that’s pretty good.”