Category: Canada

Canada

Bloomberg Canadian Finance Conference

Colin Henderson

This is a good event focussed on Canada and with the resources of Bloomberg managing. The level of professional management always shows through for their events. It is “Proudly Sponsored By National Bank of Canada Financial Markets” DETAILS: Bloomberg Canadian Finance Conference Oct 16th, 2024 Last year, we were pleased to have you join the virtual edition of Bloomberg’s Canadian Finance Conference, Proudly Sponsored By National Bank of Canada Financial Markets. We’re delighted to inform you that Bloomberg’s Canadian Finance Conference will be returning on October 16. Register for a complimentary pass to watch the live broadcast. During this virtual … Continue reading Bloomberg Canadian Finance Conference

AI, Canada

The $22 Billion Plan to Turn a Defunct Airport Into a Small City

Colin Henderson

Canadian developer aims to preserve airport’s features, including hangars and a runway, to draw residents and businesses to the neighborhood By Anne Kadet Aug. 13, 2024 at 5:30 am ET A planned community for about 55,000 residents in Toronto will include the usual playgrounds, bike paths and shops. It will also feature 11 airplane hangars and more than a mile of airport runway. Airports have been repurposed as communities and parks before, but developers typically raze the original infrastructure and start from scratch. In this case, Northcrest Developments is betting that by preserving the airport’s main features it can enhance the … Continue reading The $22 Billion Plan to Turn a Defunct Airport Into a Small City

Canada

Scotiabank announces agreement to acquire 14.9% equity interest in KeyCorp

Colin Henderson

TORONTO, Aug. 12, 2024 /CNW/ – Scotiabank announced today that it has entered into an agreement to acquire an approximate 14.9% pro-forma ownership stake in KeyCorp through an issuance of common shares at a price of $17.17 per share, representing an 11% premium to the volume weighted average price for the last 20 trading days. The total cash consideration is approximately US$2.8 billion (the “Investment”). KeyCorp is a premier U.S. based financial services company operating across 15 states, with US$187 billion in assets and approximately 1,000 branches offering commercial and retail banking and investment advice and services. The Investment will be completed in two stages—an initial investment of … Continue reading Scotiabank announces agreement to acquire 14.9% equity interest in KeyCorp

Canada8 Comments

CIBC release first Canadian bank iphone app

Colin Henderson

It was October 2009 when I posted ‘who will be the last bank without an iphone app’. For Canada I should have said who will be first, and its been a long time coming but it is CIBC.  After an initial delay in December, it is released today.  No bill payment yet, but it does have EMT (Canadian p2p payments between participating banks). Kudos to CIBC. Technorati Tags: cibc,iphone,app,app store Continue reading CIBC release first Canadian bank iphone app

Canada, Economy

The impact of global fiscal stimulus is good for Canada | Bank of Canada

Colin Henderson

Canada has been receiving kudos for a job well done throughout the crisis of the lest 2 years.  This analysis from Bank of Canada has a telling paragraph (highlighted) that suggests there are good classic economic reasons for Canada being where it is, and over-confidence would be a bad idea. The Power of Many:  Assessing the impact of Global Fiscal Stimulus | Bank of Canada Table 4 shows that, on a regional basis, the United States, as a large and relatively less open region, benefits the least from a global stimulus. Moreover, the impact of different measures depends on its … Continue reading The impact of global fiscal stimulus is good for Canada | Bank of Canada

Canada, Economy, US3 Comments

Consumer mindsets in North America have shifted permanently with regard to finances

Colin Henderson

After my last post, I thought it better to follow up with some facts to support my contention that this economic recovery is L shaped in Canada and US.  This is not meant to be an economic projection, and I leave that to the professional economists.  However in terms of planning, banks ought to consider the high probability of a scenario where the reduction in economic activity will level off but hardly see growth in the near future.  This will be driven by consumer confidence and frankly their financial circumstances. If we go back to the root cause of the … Continue reading Consumer mindsets in North America have shifted permanently with regard to finances

Canada, Economy

Countries that are least affected by the Economic Crisis

Colin Henderson

An interesting survey of business reaction to the crisis, and which countries are least impacted.  Full ranking follows the map.  This explains a lot in terms of peoples reactions. Time will tell if this reaction remains constant, and what were the contributors to and rivers of this reaction. Countries that are Least Affected by Recession | digital inspiration The data is based on the results of a business confidence survey that was done on international business people of 24 nations to identify which countries they believe are surviving the crisis the best. Researched by Nobuyo Henderson Continue reading Countries that are least affected by the Economic Crisis

Canada, Economy

Canadian banks will require more capital to remain within targets

Colin Henderson

The IMF have released their working papers following their analysis of Canadian Banks.  Notwithstanding the positive comments about Canadian banks financial position entering the crisis, there remains potential for a requirement for increased capital as negatives in Canada could decrease bank capital by 2.5% – 3.5% over next year or two. The IMF employed the American stress test approach to Canadian banks in this exercise. Here is the current position: There are two ratios being watched – Tier 1 and Total Capital.  In a nutshell and worst case scenario, IMF are saying if 2.5% or 3.5% is taken off either … Continue reading Canadian banks will require more capital to remain within targets

Canada2 Comments

What makes Canadian Banks different in this crisis? | OECD

Colin Henderson

This 21 page document reviews the circumstances prior to the crisis of Canadian Banks and other OECD Banks.  The relative abundance of retail deposits (compared to more volatile wholesale deposits)  seems to have been key for the resilience of Canadian banks, supplemented by a risk averse financial culture. The differences from the summary were as follows – Canadian Banks were: better capitalised Capital ratios before the crisis were a key determinant of bank performance during the turmoil; and Canadian banks had ample capital more liquid Compared to OECD peers, Canadian banks had slightly above-average balance sheet liquidity enjoyed relatively more … Continue reading What makes Canadian Banks different in this crisis? | OECD

Canada

Speculation mounts about Virgin next move for banking in Canada

Colin Henderson

There appears to be little more than speculation, and floating of ideas here, but nonetheless Virgin have just announced intention to launch a direct bank in UK, and Branson has noted his broad intention to get more involved in financials services. Something to keep our eyes on.  A move such as this is good for financial services, and good for the broader industry including system vendors, such as my friends at SIT, because any new set up will need the flexibility of a web based approach coupled with solid banking and investment systems. Virgin’s next chapter: Is now the time … Continue reading Speculation mounts about Virgin next move for banking in Canada