27 February 2018

Meanwhile, BMO’s adjusted net income attributable to shareholders for the same period was down by 7% to $1.422 billion because of a $425-million payment connected with the U.S. tax reform. Nevertheless, it was still larger than expected.

Those numbers follow the earnings releases from CIBC and RBC. Their results reached the top of all market forecasts, also supported by earnings south of the border.

According to BMO chief executive Darryl White, constructive economic conditions in the U.S. played to the bank’s benefit.

As the same time, Scotiabank has been actively investing in various acquisitions not only in Canada, but abroad as well, trying to diversify its income.

Now we can see stronger threats to global trade, as the seventh round of tensed negotiations for the NAFTA started this week.

Scotiabank’s CEO is sure about the bank’s position, especially about the resilience of the Mexican market.

“With the country’s wide network of free-trade agreements, Mexico is well prepared for any outcome of NAFTA negotiations,” – Porter said.