Top Canadian banks are expected to post a decline in fourth-quarter profits as choppy markets hurt wealth management and a slow deal pipeline dents income from investment banking, offsetting expected gains from business loans.
However, analysts are divided on the impact of a slowing economy, as some macro indicators still point to robust demand for loans.
"We continue to believe that a defensive posturing remains appropriate" heading into fiscal 2023, adding they expect credit conditions to hold up remarkably well.net interest margin"Business lending was particularly strong and aided by strength in balances outside of Canada," KBW analysts Mike Rizvanovic and Abhilash Shashidharan said.
as higher borrowing costs eliminate potential homebuyers, casting a pall on what is typically a lucrative revenue stream for lenders., the No.4 lender, with over 50% of its total loans being domestic retail mortgages, will be hit harder than peers, analysts said.
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