It's been getting harder for banks to make money, as evidenced by today's rare RBC profit miss. A big culprit is the evolving economic forecast, one which now reads "more dreary with a chance of defaults." That's leading banks like RBC to stockpile larger-than-expected loan loss reserves.
Canada’s Big Six are also watching renewal waves hit like a fiscal tsunami, and most are strongly shoving customers toward multi-product relationships, something their #monoline# competitors can't really do.
Below, we unpack all this and more, highlighting each bank's Q2 mortgage reveals.
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