May 28th, 2021
REALITY CHECK: Trudeau silent as Big Banks profit
In the midst of the global pandemic, ordinary Canadians watched their jobs disappear and finances dwindle. Canada’s Big Banks, on the other hand, turned this crisis into a financial windfall. They knew full well Justin Trudeau would do nothing to stop the gouging, and Erin O’Toole would let him.
Here are their Q2 2021 earnings, or as one headline writer calls it, an “Earnings Bonanza”:
- Royal Bank - $4,000,000,000
- TD Canada Trust - $3,700,000,000
- Bank of Montreal - $1,300,000,000
- CIBC - $1,650,000,000
- National Bank of Canada -$801,000,000
- Bank of Nova Scotia - Coming June 1
Profits are up. Bank fees are up. Life’s good for Canada’s bankers with Justin Trudeau and Erin O’Toole in Ottawa. It’s a common refrain—Canadians suffer; the rich get richer; while Ottawa does nothing.
Canadians deserve better.