Canada’s big three banks all beat quarterly estimates
Royal Bank of Canada, Toronto-Dominion Bank and Canadian Imperial Bank of Commerce all topped profit estimates despite their exposure to the embattled oil and gas sector. Gross impaired loans to the oil and gas sector increased at all three lenders, but each saw strong results in other sectors.
CIBC reported a 3.5% increase in quarterly profit, helped by growth in its retail and business banking divisions. Net income for the bank was $941 million, compared with $911 million for the s...

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