NEWS
08/28/2015 15:29 EDT | Updated 08/28/2016 01:12 EDT

By the numbers: Canada's six biggest banks earned a combined $9.2 billion in Q3

TORONTO — Canada's six biggest banks earned a whopping $9.2 billion in combined profits during the third quarter ended July 31, even amid investor concerns about how the plummet in the price of oil and Canada's contracting economy would weigh on the lenders' bottom lines. Here are a few key figures from this week's quarterly earnings report:

— The Bank of Montreal increased its third-quarter profit by six per cent to $1.19 billion.

— CIBC grew its third-quarter net income by 6.2 per cent to $978 million.

— National Bank of Canada saw its third-quarter profit rise by three per cent to $453 million.

— Royal Bank of Canada reported net income of $2.475 billion for the third quarter, up four per cent.

— Scotiabank's net income was $1.847 billion for the quarter, down 21.4 per cent from $2.351 billion a year ago, when it saw a one-time gain from selling most of its stake in CI Financial.

— Toronto-Dominion Bank earned a profit of $2.266 billion in the third quarter, up 7.5 per cent.

The Canadian Press

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