With hardly any exposure to European financial institutions and nations, another strong quarter of performance was posted by Canada’s banks. Canada’s Imperial Bank is the fifth largest along with the Royal Bank having the largest assets. The second quarter is showing these two banks recorded profits after a year of losses.
Toronto-Dominion who is ranked number two, is stating their profit doubled in domestic consumer banking. This is due to strength and an increase of 55% in earnings from the United States operations. Consumer mortgages and loans continued to grow with record breaking interest rates. The first quarter of the year, the economy should grow to 5.5%.

With these numbers this will help banks by supporting them in places like trading revenues and capital-markets and also help trim losses from loans. Some of these weaknesses led to missing some expectations making their shares a little lower. Canadian’s banks, Bank of Montreal, TD, CIBC, and Royal Bank.

Their exposure is minimal to Europe’s financial institutions and over all debt. They are stating they had less than Canadian $50,000,000 in sovereign debt to Portugal, Spain, Italy, and Greece and non-sovereign Canadian $380,000,000 direct exposure. Royal Bank states its exposure is to focus on fixed income, currency trading, and liquidity management which is short term along with strong counterparts.