Analysts cautious on banks’ financials

The earnings season for some of Canada’s largest mortgage lenders will reveal a snapshot into the state of the market this week as the Big 6 banks report their results.

With economic challenges including the weak loonie and continued oil downturn, analysts are cautious about the state of the lenders’ finances.

Although the second quarter results were largely strong, the third quarter could show tougher conditions.

James Shanahan of Edward Jones told CBC that there are concerns over consumer lending too: "I expect some weakness on the consumer side, particularly as it relates to residential mortgages, and unsecured consumer loans.”
 

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