Industry

Big banks post big profits

(May 26, 2004) Two of Canada’s big banks today released their latest earnings reports, ringing up huge profits in the second quarter. BMO Financial and CIBC posted quarterly earnings of $602 million and $531 million respectively. Both banks announced significant growth in their private client and wealth management groups, while seeing profitability decline in their […]

By Steven Lamb |May 26, 2004

2 min read

Fund statements improving, says researcher

(May 26, 2004) Mutual fund statements have become clearer and easier to understand over the past three years, according to Dalbar’s 2004 Investor Statement Analysis. “Companies today are generally using more personal language in their statements — they’re speaking directly to the customer rather than referring to them in the third person,” says Mark McDonald, […]

By Steven Lamb |May 26, 2004

2 min read

Briefly:

(May 28, 2004) The annual offering of Ontario savings bonds begins today, the province’s finance minister announced. The province is selling three types of bonds until June 18: Step Up Bonds, Fixed Rate Bonds and Variable Rate Bonds. The five year Step Up Bond interest rates are 1.7% this year, 3% next year, 3.5% in […]

By Staff |May 25, 2004

6 min read

Drilling down: Advocis conference heads west

(May 25, 2004) After a successful Newfoundland outing in 2003, Advocis is heading west this year to Calgary for its annual advisor conference, which gets underway later this week. The theme of the yearly gathering of financial advisors — staged at the Telus Convention Centre May 26 to May 29 — is “Drilling down: shifting […]

By Staff |May 25, 2004

2 min read