Tuesday, February 23, 2016

LOW OIL PRICES AFFECTING CANADIAN BANKS

Moody's warned on Monday that the oil price slump will strain profitability at Canada's largest banks, which begin reporting results this week, however analysts expect regional banks will feel the brunt of the pain as the energy-rich province of Alberta reels from the downturn.  The worry is the oil rout will hit mortgages, auto loans and credit card debt of consumers, especially in Alberta.
 

No comments:

Post a Comment