RBC’s CEO, meanwhile, discussed the risks of president-elect Donald Trump’s threats of broad tariffs on Canada, and said the bank is preparing for a variety of scenarios
Upheaval in Canada ’s federal government is throwing the country’s businesses into greater uncertainty than their peers in the United States, according to Bank of Montreal
“There’s a lot less uncertainty in the United States today than there was a year ago. Set aside the drama, there’s clearly a pro-growth agenda that people are signing up for,” Mr. White said. “We’re still trying to figure out the objective of that rhetoric. There is a lot of opportunity to work together to create better economies and better integration, and I don’t believe that tariffs achieve that. I think that tariffs can do a lot of damage.”In October, Toronto-Dominion Bank pleaded guilty to conspiracy to commit money laundering, prompting a suite of severe penalties from U.S. regulators and law enforcement, including a US$3-billion fine.
“I look forward to an active season, but our goal is to make sure that we are growing profitably and continuing to take market share as we go forward,” Mr. Chun said.
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