Canada bank CEOs see bigger economic challenges from COVID-19 than financial crisis [Reuters]
Royal Bank Of Canada (RY)
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Source: Reuters
Canada bank CEOs see bigger economic challenges from COVID-19 than financial crisis TORONTO (Reuters) - The coronavirus pandemic’s economic impact on Canada will be broader and more challenging than the 2008-09 financial crisis, with the recovery likely to take longer than expected, chief executives of the country’s two major banks said on Wednesday. “This is much more severe than the financial crisis ... which was really mild for Canada,” Royal Bank of Canada ( RY.TO ) CEO Dave McKay said on a media call following its annual shareholder meeting. “We’re facing an economic shock and contagion like we’ve never seen,” he said, adding “significant” fiscal stimulus will help ease the impact. While the government assistance measures may appear to be taking longer than ideal, they have come together, “very, very quickly,” given the unprecedented nature of the crisis, Victor Dodig, CEO of Canadian Imperial Bank of Commerce ( CM.TO ), said in an interview following its investor meeting. Ca
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News
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- Royal Bank Of Canada (NYSE:RY) (TSE:RY) had its "outperform" rating reaffirmed by analysts at Scotiabank.MarketBeat
- Royal Bank Of Canada (NYSE:RY) (TSE:RY) had its "outperform" rating reaffirmed by analysts at National Bankshares, Inc..MarketBeat
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Earnings
- 12/3/25 - Beat
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Sec Filings
- 12/5/25 - Form 424B2
- 12/5/25 - Form 424B2
- 12/5/25 - Form 424B2
- RY's page on the SEC website