RBC's 3% gain marred by US travails

Article Abstract:

Royal Bank of Canada (RBC) posted a modest 3 percent increase in first-quarter of 2004, but investors hammered its stock, reacting to the bank's continuing struggles in the United States. The increase in the profits was motivated by a $150 million reversal of loan-loss provisions that helped to offset a second consecutive quarter of poor performance at the RBC's US retail banking outfit.

Securities issued, listed, Securities, Royal Bank of Canada, Company securities

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Rallying markets spark jump in profitably at CIBC, BMO

Article Abstract:

Improved credit and rallying stock markets supported an increase in profitability at Canadian Imperial Bank of Commerce (CIBC) and Bank of Montreal in the second quarter of 2004. Second-quarter profit at CIBC increased 77 per cent to $483-million or $1.33 a fully diluted share, compared with $273-million or 76 cents a year earlier in 2003.

Bank of Montreal, Canadian Imperial Bank of Commerce

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