{"id":2592,"date":"2014-12-07T12:27:29","date_gmt":"2014-12-07T17:27:29","guid":{"rendered":"http:\/\/olduvai.ca\/?p=2592"},"modified":"2014-12-07T12:27:29","modified_gmt":"2014-12-07T17:27:29","slug":"canadian-banks-revenue-threatened-by-falling-oil-prices","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=2592","title":{"rendered":"Canadian Banks’ Revenue Threatened By Falling Oil Prices"},"content":{"rendered":"

Canadian Banks’ Revenue Threatened By Falling Oil Prices<\/a>.<\/p>\n

TORONTO – Oil prices that reached a five-year low on Friday are starting to take a bite out of profits at TD Bank (TSX:TD) and raising concerns for the rest of the country’s top lenders.<\/p>\n

Canada’s biggest banks earn up to 20 per cent of their revenues through providing investment and corporate banking services, with oil and gas companies an important part of that client base.<\/p>\n

But with oil prices slipping \u2014 they have tumbled roughly 35 per cent to under $70 a barrel from their mid-summer highs due to a strong U.S. dollar, low demand and a glut of global supply \u2014 TD Bank says it will have to look beyond the oilpatch to make up its investment banking revenue.<\/p>\n

“With the current activity going on in oil pricing, it certainly is impacting activity levels in the business,” Bob Dorrance, the head of TD’s wholesale banking division, told investors during a conference call earlier this week after the bank reported its fourth quarter results.<\/p>\n

“Things have slowed down.”<\/p>\n

Scotiabank was the last of Canada’s five big banks to report its quarterly earnings this week, wrapping up a series of conference calls that were peppered with talk about falling oil prices.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Canadian Banks’ Revenue Threatened By Falling Oil Prices. TORONTO – Oil prices that reached a five-year low on Friday are starting to take a bite out of profits at TD Bank (TSX:TD) and raising concerns for the rest of the country’s top lenders. Canada’s biggest banks earn up to 20 per cent of their revenues […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[63,103,1729,592],"class_list":["post-2592","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-banks","tag-canada","tag-oil-and-gas-industry","tag-oil-price"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2592","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2592"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2592\/revisions"}],"predecessor-version":[{"id":2593,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2592\/revisions\/2593"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}