Canada’s banks to cement status as solid investments in a crisis


(Reuters) – Canadian banks, whose dividends yields climbed during the financial crisis, are again gaining favor with investors, as their pledges to maintain payouts gives them an edge over global counterparts who have shunned them.

FILE PHOTO: A man walks in front of buildings in the financial district in Toronto, January 28, 2013. REUTERS/Mark Blinch

Canadian banks are currently offering dividend yields of 5.7% versus U.S. banks’ 4.2% and European lenders’ 1.7%, according to Datastream.

(GRAPHIC: Canada bank yields outstrip European, American rivals – here)

Dividends are seen as evidence of good financial health and encourage loyalty from investors,

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IMF says banks will struggle to be profitable through 2025


Pedestrians walk past a J.P. Morgan Chase bank branch.

Alex Tsai | SOPA Images | Getty Images

WASHINGTON — The beaten-down banking sector will remain under pressure through 2025 even as the economy recovers, the International Monetary Fund said Friday. 

In its latest “Global Financial Stability Report,” the IMF found banks across nine advanced economies will struggle to generate profits over the next five years as the coronavirus pandemic causes a sustained period of low interest rates. The Fund said the Covid-19 economic downturn will “test banks’ resilience” as they face loan losses and tighter margins from low

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Banks pursue Luckin Coffee chairman’s assets after loan default


HONG KONG (Reuters) – The banks that lent $518 million to Luckin Coffee (LK.O) Chairman Charles Zhengyao Lu have started court proceedings to liquidate his private company, a government gazette for the British Virgin Islands showed.

FILE PHOTO: A Luckin Coffee logo is seen at a closed store in Beijing, following the novel coronavirus disease (COVID-19) outbreak, China, April 16, 2020. REUTERS/Tingshu Wang

The notice, published on Thursday and reproduced in Hong Kong media on Friday, names Credit Suisse as the security agent, which means it will act on behalf of the banks behind the loan. A court

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Britons spurned by banks caught in a coronavirus credit crunch


LONDON (Reuters) – When a payroll glitch left Natalie Gallagher so short of cash this month she couldn’t afford her bus fare to work, she turned to her usual lender Amigo for an emergency top-up loan.

FILE PHOTO: A pedestrian walks past a payday lending shop in London March 6, 2013. REUTERS/Suzanne Plunkett/File Photo

But she was out of luck. Like many of the lenders that thousands of higher-risk borrowers in Britain depend on, Amigo had tightened its criteria for handing out cash in the wake of the coronavirus.

“They approved my top-up but 10 minutes later I got a

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