Royal Bank of Canada boosted CEO Dave McKay's 2024 salary by 61% to C$24.5 million ($17.14 million), including a C$4 million bonus related to the HSBC Canada acquisition, according to a regulatory filing on Thursday.
The chief executives of Canada’s six biggest banks earned a combined $74.5-million in 2024, up from just under $72-million in total compensation the year before
Bank of Montreal (TSE:BMO – Free Report) (NYSE:BMO) had its price target hoisted by Royal Bank of Canada from C$161.00 to C$163.00 in a research note issued to investors on Wednesday,BayStreet.CA reports.
Trade tensions are stalling deals, investments and loan growth, according to one of Canada’s biggest banks, and while the full impact of a tariff war is impossible to game out, it’s already putting a damper on the outlook for the country’s financial sector.
Canada's big bank CEOs are urging the federal government to remove internal trade barriers, evaluate tax policies and other regulation as the country's top lenders cautioned that tariff and trade risks are clouding the economic outlook.
Both the weather and incoming tariffs are to blame for the lower-than-expected number of jobs created, according to James Orlando, director and senior economist at Toronto-Dominion Bank, and that likely means another rate cut from the Bank of Canada next week.
CIBC, TD Bank, BMO, Scotiabank, RBC and National Bank – released their first-quarter financial results this week
Bank of New York Mellon Corp lifted its holdings in shares of Bank of Montreal (NYSE:BMO – Free Report) (TSE:BMO) by 6.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 708,
National Bank of Canada on Wednesday reported a higher first-quarter profit helped by robust performance in its wealth management unit.
Dave McKay, Royal Bank of Canada's chief executive, saw his total pay jump to $25.9 million last year, up from $16.1 million in 2023. (Credit: Galit Rodan) Four of the six chief execs at Canada’s biggest banks received more compensation in 2024 as they were rewarded for meeting financial targets in a year marked by uncertainties linked to the United States elections and rising provisions for credit losses,