FACTBOX-Wealth management earnings at Canadian banks
News from Reuters:

Wed Aug 31, 2011 2:00pm EDT

Aug 31 (Reuters) – Canadian banks have made wealth
management a major focus in recent years as they compete for
the savings and investments of retiring baby boomers in North
America and try to tap growing wealth abroad.

Below are highlights of the quarterly results for the
banks’ wealth management units for the quarter ended July 31.

– RBC (RY.TO) Wealth Management

Quarterly profit fell 3 percent to C$ 179 million ($ 183
million) from a year earlier due to comparison with a
year-before quarter in which accounting and tax adjustments
increased earnings extraordinarily. [ID:nN1E77P044]

continues on Reuters
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Related News:

CIBC wealth management profit rises 12 percent
News from Reuters:

Wed Aug 31, 2011 1:59pm EDT

* Wealth unit earns C$ 68 mln in Q3 vs yr-earlier C$ 53 mln

* Revenue up 12 percent at C$ 404 million

Aug 31 (Reuters) – Quarterly profit at Canadian
Imperial Bank of Commerce’s (CM.TO) wealth management unit rose
12 percent due to higher fee-based revenue and commissions from
new-issue and equity-trading activity.

CIBC, Canada’s No. 5 lender, said on Wednesday its wealth
management division had net income of C$ 68 million ($ 69.4
million) in the bank’s fiscal third quarter, ended July 31,
versus C$ 53 million a year earlier.

Revenue was up 12 percent at C$ 404 million, mainly due to
higher fee-based and commi…………… continues on Reuters
… Read the full article

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