SOURCE: Paragon Financial Limited

Paragon Financial Limited

March 09, 2012 08:20 ET

Value Growth at Canadian Banks Continues to Skyrocket

The Paragon Report Provides Equity Research on The Bank of Nova Scotia & Bank of Montreal

NEW YORK, NY--(Marketwire - Mar 9, 2012) - Despite rocky share price performances for some of the country's money center banks, Canada's financial sector continues to be ranked as one of the world's safest. Six of Canada's banks rank among the top 25 most credit worthy banks in the most recent list compiled by Global Finance Magazine. The Paragon Report examines the outlook for companies in Canada's Banking Sector and provides stock research on The Bank of Nova Scotia (NYSE: BNS) (TSX: BNS) and Bank of Montreal (NYSE: BMO) (TSX: BMO). Access to the full company reports can be found at:

London-based BrandFinance, which releases an annual bank brand survey, said four Canadian banks were among the five global bank brands which gained the most value last year. The consultancy put Toronto-Dominion Bank second, with year-on-year brand value growth of $1.9 billion, followed by Bank of Nova Scotia, Royal, and BMO. The four banks trailed only American Express.

With Canadian banks representing stability, the country's financial firms believe the strength of the Canadian brand can help them close foreign expansion deals and win over Europeans and Americans who have lost faith in local lenders, Reuters reports.

The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on Canada's Banking Sector register with us free at and get exclusive access to our numerous stock reports and industry newsletters.

Earlier this week The Bank of Nova Scotia reported a first quarter profit of $1.44 billion, up 15 per cent from last year on higher loan volumes and a gain on the sale real estate assets. The bank increased its quarterly dividend 3 cents, or 6 per cent, to 55 cents. Scotiabank is the third bank to increase its dividend this quarter after Royal Bank of Canada and Toronto-Dominion Bank made the same move last week.

Last week Bank of Montreal said that it earned C$1.1 billion ($1.1 billion), or C$1.63 a share, up 34 percent from a year-earlier profit of C$825 million, or C$1.34 a share. According to a recent report from Reuters, BMO has been widening its footprint in China, most recently agreeing to buy a stake in China's COFCO Trust Co, a unit of state-owned COFCO Group, to expand its offerings to high net worth and institutional clients.

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