Mohit Shah

Unlock the secrets to financial freedom with #LCBC in partnership with Sun Life on May 2nd (5 pm). #LCBCAdapt (Online Training) - Learn to Manage and Protect Your Savings ✅ Learn how to craft a solid financial plan ✅ Discover the types of accounts for managing your savings ✅ Understand how to protect your assets 🎟 Admission is FREE! Don't miss out on this opportunity and secure your spot now at https://bit.ly/LCBCAdapt3 #LCBCAdapt #SUNLIFE #FinancialPlanning #SavingsManagement #AssetProtection

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More divergent performance is likely for Canadian banks as they utilize different growth strategies heading into next year. Listen to a replay (On Demand) of our recent webinar as senior analysts Christopher Wolfe, Maria-Gabriella Khoury and Peter Simon discuss the performance of Canadian banks through Q3 and provide a preview through year end: https://ow.ly/pYEZ50Tzzs8 Read related report and Fitch’s recent peer review for Canadian Banks: https://ow.ly/Uwvi50TzzsG

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There's still time to register for this year's IAFP Virtual Symposium starting Wednesday, September 25! Register now and secure your spot: https://iafpsymposium.ca/ Institute of Advanced Financial Planners - IAFP #FinancialPlanning #ContinuingEducation

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BANK OF CANADA LOWERS KEY INTEREST RATE! Breaking News – Bank of Canada lowers key interest rate by 25 basis points to 4.75% for the first time since 2020. Reach out to any of our qualified professionals today to discuss how you can make the most of this opportunity and how it may impact you or your business. #BankofCanada #InterestRates #BreakingNews #MeloLLP

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Leading participants in sustainable finance are choosing Montreal as a nucleus for their sustainability efforts as the city continues to increase its reputation as a centre for ESG. Scotiabank’s Sustainable Finance and Jarislowsky Fraser teams were proud sponsors, participating in thought provoking discussions at this week’s 4th annual Sustainable Finance Summit organized by Finance Montréal with the objective of strengthening collaboration between actors in the province’s ESG ecosystem. #SustainableFinanceSummit Read how Scotiabank continues to work closely with our clients in Quebec: http://ms.spr.ly/6047YkvQ5

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Credit cards' market share update of chartered banks in Canada (January 2024 vs January 2019): 1. RBC holds the largest market share in 2024 at 22%. 2. TD experienced a decline in market share from 23.4% in 2019 to 20.3% in 2024. 3. CIBC saw its market share increase from 14.9% in 2019 to 18.4% in 2024, primarily due to its acquisition of Costco's Mastercard portfolio worth $3B from Capital One in 2021. 4. Desjardins, with the 5th largest portfolio at $10.7B in 2024, is not included in the pie charts as it is not a chartered bank. 5. Other major players include Canadian Tire, President's Choice, Fairstone (issuer of Walmart's cards), and Capital One. Capital One is also excluded from the charts as it is not a chartered bank. * Data reflects avg. daily or end-of-quarter balances. ------------------------ ------- Provided by WOWA.ca Simply Know Your Options 🔍

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Banking & budgeting in Canada is TOUGH. Let us make it easier! If you're a newcomer to Canada who is finding it challenging to navigate banking and budgeting, you WON'T want to miss tomorrow's webinar. Here's a sneak peek into what we'll cover: ✅ How to get set up to bank in Canada ✅ 5 features of banking in Canada ✅ Budgeting basics for life in Canada 🦋 PLUS an intro to Butterfly, the budgeting app for newcomers Don't wait, register now: https://hubs.la/Q02Y-J9j0 This webinar is sponsored by Canadian Bankers Association #newcomertocanada #newcomer #immigrant #banking #budgeting

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Jan Barcelo, Morningstar, “Will Canada Open Up To Open Banking?” June 13, 2024: “The last Canadian government budget announced that it would table legislation as early as this Spring, with a follow-up next Fall, facilitating the implementation of “open banking”, and prompting increased discussion around the topic. As explained on a Government of Canada website, #openbanking essentially responds to pressure coming from the “fintech” sector (fintechs are software companies that develop third-party applications, or apps, mostly for mobile phones or tablets, used in the financial sector). One can understand that the U.K. would spearhead the open banking initiative because it has identified fintechs as a key development sector of its economy and created very favourable regulatory conditions for its development. You enter open banking through a fintech application whose goal is to help you manage your finances. That app prompts you to link it to your bank accounts where it can access your financial data, and you must authorize your bank to share your data with the app. Presently, “an estimated nine million Canadians share their confidential banking credentials to service providers,” states the Government of Canada website. This sharing happens through ‘screen scraping,’ meaning that you provide your online banking username and password to the app provider, which uses this information ‘to automatically log into your bank account as if they were you.’ That means you’re losing some control of your identifiers – and this is a major security issue.”

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The Bank of Canada has become the first G7 central bank to cut #InterestRates, raising questions about a possible growing rate divergence with the U.S. #FederalReserve. Hafiz Noordin, CFA, Vice President & Director, Active Fixed Income Portfolio Management at TDAM says the BoC can plot its own rate path for now but that may change if the Fed continues to keep rates on hold. Watch the full video: https://lnkd.in/gRTbu6Zk

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Our Senior Financial Services Analyst, Nigel R. D'Souza, CFA, was quoted widely this week regarding National Bank of Canada's deal to buy Canadian Western Bank. In the media quotes, Nigel leaned on two extensive reports we published for clients over the past year in which he studied Canadian banks going back for decades, and concluded that the banks that stay closest to home and avoid international expansion tend to have the highest returns for shareholders. "When you look at the businesses the banks operate in -- Canadian banking, wealth management, capital markets and international banking (mainly U.S. and Latin America ) -- by far, Canadian banking generates the highest ROEs (Return on Equity), typically close to 30% or higher, with the lowest credit losses and in a financial system that is relatively stable," Nigel told BNN Bloomberg. "You still get healthy ROEs in wealth and capital markets, but on the other end, you have international banking. Take U.S. banking, for example, where you get a low double-digit ROE - sometimes 10%, sometimes single-digit -- and there are more credit losses in the U.S. versus Canada. There's also more financial system instability, plus currency risk, plus political uncertainty."  "The banks that maximize risk-adjusted ROE over the long-term are the ones that outperform. With Canadian banking offering the best risk-adjusted ROEs, expanding that business is a win in our eyes." Nigel had a BUY on Canadian Western Bank before the proposed transaction was announced. Visit our News and Insights page for coverage by BNN Bloomberg, Reuters, Bloomberg, The Financial Post, and the Canadian Press. https://lnkd.in/gNgWb9zg

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🎙️Canadian Banking Insights: A Deep Dive into RBC In today's episode of InFocus, Candis Fitch, CIM®, CIWM, portfolio manager at TriCert Investment Council, is joined by fellow portfolio manager Lee Grimshaw, CFA®, to discuss the financial sector, with a particular focus on the Royal Bank of Canada (RBC). They highlight RBC's impressive performance, including its position as the largest company on the TSX 300 and its significant market cap. The discussion covers RBC's diverse portfolio, global reach, and recent financial results, including a strong quarterly performance driven by acquisitions and growth in various segments. They also address some challenges RBC faces, such as increased provisions for credit losses and economic headwinds in Canada. The episode concludes by comparing RBC's performance to that of other major Canadian banks. Play this episode: https://lnkd.in/gsujZqn7 Listen and Subscribe on Spotify: https://lnkd.in/gN6tYbTF Listen and Subscribe on Apple Podcasts: https://lnkd.in/gUWbDDuw #Podcast #InvestmentManagement #FinancialsSector

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One of the foundational features of RBC Clear™ by RBC Capital Markets is the 150+ conversations we had with treasurers to learn more about their real needs and pain points. One common issue we heard over and over again? The onboarding experience. That's why being recognized for Outstanding Account Opening and Onboarding Initiative in The Digital Banker Global Transaction Banking Innovation Awards 2024 for our reimagining of the end-to-end onboarding experience is incredibly meaningful. It ties directly into the North Star of our entire build: putting the client first and paving a better way for treasurers to handle their cash management needs. Learn more about RBC Clear, including other awards and accolades: http://spr.ly/6046l4vuY

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Looking to boost your credit score? Learn how to fix bad credit in Canada by managing debt, making timely payments, and monitoring your credit report for errors. Small changes can make a big impact on your financial future. #CreditScore #FinancialHealth #DebtManagement #MoneyMatters #FinancialAdvisor https://lnkd.in/g_iNHG-k

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Canada's 2024 federal budget outlined steps toward Open Banking (aka consumer-driven banking), including announcing that the Financial Consumer Agency of Canada will oversee the Framework, and that legislation will be introduced this spring to begin implementation. Learn more in this update from Stewart McKelvey: https://lnkd.in/d9FPsNyQ). #modernpayments #openbanking

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In the ever-evolving world of international trade, risk is inevitable. At CCC, we help Canadian businesses navigate these uncertainties with confidence. Our expertise in risk management ensures that businesses can focus on growth, while we handle the complexities of managing the risks of the procurement process. Learn more about our risk management practices: https://hubs.ly/Q02Pp5WX0  #CCC #RiskManagement #GlobalTrade #BusinessSuccess

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📢 Finance Canada / Finances Canada has appointed Shereen Benzvy Miller as Commissioner of Financial Consumer Agency of Canada | Agence de la consommation en matière financière du Canada Michelle Beyo, president of Open Finance Network Canada (OFNC), said that her appointment "is key at this pivotal time for Open Banking in Canada". Read more at the 🔗 #openfinance #banking #openbanking #consumerdrivenbanking #financialdata #leadership https://lnkd.in/eKCpcThn

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For many Canadians, an unexpected expense between paydays can mean late bill payments, borrowing from family or friends, or resorting to payday loans, with substantial fees and interest charges. But Canadian startup ZayZoon aims to solve issues like this by helping companies provide people with access to wages they’ve already earned before payday. Read about how ZayZoon is providing earned wage access and its partnership with Scotiabank:

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