Student loan plan 'best deal' available

Article Abstract:

The government's Canada Student Loan Program has offered major banks $100 million in risk premiums to retain them as partners in the financially troubled program. The banks include Royal Bank of Canada, Bank of Nova Scotia and Canadian Imperial Bank of Commerce.

Government domestic functions, Financial management, Banking industry, Finance, Political aspects, Bank of Nova Scotia (Toronto, Canada), Canadian Imperial Bank of Commerce, Royal Bank of Canada, RY, Student loans

Bank of Montreal to open branches in 20 grocery stores

Article Abstract:

Bank of Montreal revealed that it will launch as much as 20 branches inside A&P and Dominion grocery stores by the end of 1998, the latest in efforts by major Canadian banks to take on a retail partner. The alliance between the bank and Toronto, Canada-based Great Atlantic & Pacific Tea Co. Ltd., which runs the A&P and Dominion chains, involves installing kiosks inside grocery stores. Every kiosk will be staffed by one to three employees plus bank employees and every branch will carry the Bank of Montreal banner.

Comment:

Will equip as much as 20 of its A&P and Dominion grocery stores branches with Bank of Montreal kiosks by the end of 1998

Grocery Stores, Supermarkets and Other Grocery (except Convenience) Stores, Strategic alliances, Bank of Montreal, Great Atlantic & Pacific Tea Company Inc., Article

Canadian banks, if not the biggest, are among the most profitable

Article Abstract:

Canadian bank rank fifth out of banks in 11 countries in terms of profitability. Canada's five biggest bank had an average return on equity (ROE) of 11.6% in 1998. However, the ROE was still down compared to 16.6%in 1997 when Canada's top five bank posted the second highest average ROE. The top five Canadian banks posted record profits in dollar terms in 1998 but their ROE's declined compared to 1997.

Sales, profits & dividends