FX Week

Canadian Banks Show Consistent Trends In Third-Quarter FX Earnings Reports

BANKS

The remainder of the largest Canadian banks have released earnings for the period ended July 31 showing consistent third-quarter strength virtually across the board (see table below).

Royal Bank of Canada (RBC) continues to lead the pack in terms of quarterly foreign exchange gains, posting C$73 million for the quarter, a 14 per cent improvement over year-ago figures, but off 11 per cent from the C$82 million posted during the second quarter.

Ian MacKay, senior vice president, treasury,

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