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Despite mortgage concerns, Canada's Big Six banks reported a billion-dollar profit surge in 2024.
In 2024, Canada's financial sector saw the Big Six banks report a billion-dollar increase in adjusted profits, despite concerns about mortgage defaults and high interest rates.
The Bank of Canada reduced its interest rate to 4.5%, with further cuts expected in 2025.
Mortgage delinquency rates rose slightly but remained below pre-pandemic levels.
TD Bank Group paid a significant fine for anti-money laundering failures, while RBC acquired HSBC Canada, boosting its market capitalization by nearly 30%.
The five largest Canadian banks also provided the lowest level of fossil fuel funding since 2015.
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A pesar de las preocupaciones hipotecarias, los bancos Big Six de Canadá reportaron un aumento de ganancias de mil millones de dólares en 2024.