Canadian Banks Deflated By Provisions But FX Revenues Solid In Third Quarter

Although the largest Canadian banks--Royal Bank of Canada and the Canadian Imperial Bank of Commerce--aren't due to release their results until the end of this week, all the others have already clocked in with third quarter earnings. In general, foreign exchange revenues were healthy but overall earnings were deflated again this quarter by loan-loss provisions.

In fact, of the four reporting, only the Bank of Montreal managed to post higher net income than it did during the same period a year ago