SOURCE: The Bedford Report

The Bedford Report

December 14, 2011 08:16 ET

Canadian Banks -- Soundest in the World but Dragged Down by Europe

The Bedford Report Provides Equity Research on Toronto Dominion & Bank of Montreal

NEW YORK, NY--(Marketwire - Dec 14, 2011) - Canadian Banks, ranked the world's soundest for four straight years by the World Economic Forum, posted strong results in their fiscal fourth quarter. According to The Wall Street Journal, profits rose on consumer and business loan growth, which benefitted from the continued economic and employment growth in Canada "that has kept the housing market strong and consumer confidence stable." The Bedford Report examines the outlook for companies in Canada's Banking Sector and provides stock research on Toronto-Dominion Bank (NYSE: TD) (TSX: TD) and Bank of Montreal (NYSE: BMO) (TSX: BMO). Access to the full company reports can be found at:

In contrast to their U.S. counterparts, Canadian Banks handed out more bonuses to their employees over the last year. According to earnings statements, Canada's six biggest banks set aside about C$9.5 billion ($9.3 billion) for performance-based compensation in fiscal 2011, up from C$8.9 billion in 2010. Reuters reports that "the healthy bonuses underscore the strength of Canada's big lenders, whose fourth-quarter earnings rose 34 percent to C$6.4 billion, despite narrowing interest margins and generally weak financial markets in the second half of the year."

The Bedford Report releases regular market updates on Canada's Banking Sector so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

While Canadian Banks had a successful fiscal 2011, The Bank of Canada recently warned of a global epidemic of contagion spreading from Europe, saying Canada's economy and financial systems are already being affected and risks of further damage are elevated. "Conditions in the international financial system have deteriorated significantly" since publication of its last Financial System Review in June, the central bank said. Because of global economic struggles, "risks to the stability of Canada's financial system are high and have increased markedly over the past six months," the report said.

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