Big banks brace for losses on energy-sector loans as already weakened firms cope with drop in demand [Toronto Globe and Mail (Ontario, Canada)]
Toronto Dominion Bank (The) (TD)
Last toronto dominion bank (the) earnings: 2/27 06:30 am
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Source: Toronto Globe and Mail
Big banks brace for losses on energy-sector loans as already weakened firms cope with drop in demand Canada's Big Six banks reported a sharp uptick in energy loans that became impaired during the quarter. Adrien Veczan/The Canadian Press Canada's Big Six banks reported a sharp uptick in energy loans that became impaired during the quarter. Canada’s large banks are bracing for major losses on energy-sector loans over the coming quarters, as producers and oil field service companies continue to struggle with low oil prices. The Big Six banks, which reported earnings last week, set aside hundreds of millions of dollars to cover possible losses on oil and gas loans, and reported a sharp uptick in energy loans that became impaired during the quarter. Not all of these loans will necessarily turn sour; bank provisioning always involves guesswork, particularly for industries tied to commodity prices. However, many borrowers in the energy sector, particularly those focused on exploration an
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News
- Statistics Canada reports February retail sales down 0.1% to $66.7 billion [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Canada's retail sales flatlined in the first quarter of 2024 [BNN Bloomberg (Canada)]BNN Bloomberg
- Canada's Retail Sales Flatlined in the First Quarter of 2024 [Yahoo! Finance]Yahoo! Finance
- TD Courts Foreign Students Amid Canada's Cap on Study Permits [Financial Post (Toronto, Ontario, Canada)]Financial Post
- TD and ApplyBoard Collaborate to Support International Students Pursuing Studies in Canada [Yahoo! Finance]Yahoo! Finance
TD
Earnings
- 2/29/24 - Beat
TD
Sec Filings
- 4/24/24 - Form 424B2
- 4/24/24 - Form 424B2
- 4/24/24 - Form 424B2
- TD's page on the SEC website