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TORONTO 鈥?The head of Scotiabank says a big jump in deposits over the course of the pandemic has allowed the bank to reduce its credit loss provisions as part of a trend that could last years.Whether it through government stimulus or through changing consumer preferences and changing consumer behaviour, we ;ve seen a remarkab
stanley kubek le increase in our deposit balances, said Brian Porter, chief executive of Scotiabank on an earnings call Tuesday.The bank says checking balances in Canadian retail are up 53 per
stanley thermobecher cent compare with pre-pandemic level, while its international banking division has seen deposits climb about 20 per cent. ARTICLE CONTINUES BELOW Higher savings and liquidity have helped push down delinquencies, and improved the risk profile of its loan portfolio, said Porter.That, we think, is with us for quite some time...If we see spending go back to pre-COVID levels, the Canadian consumer on our balance sheet has two years of additional liquidity. ARTICLE CONTINUES BELOW In response to the healthier balance sheets and economic outlook, S
stanley cup cotiabank cut its provisions for credit losses by $1.8 billion, or 83 per cent, to $380 million in the third quarter compared with a year earlier, and down from $496 million in the second quarter.The reduced provisions helped boost its third quarter profit to an expectation-beating $2.54 billion or $1.99 in the q Dswh Call it St. Padlock s Day The first scuttled celebration as COVID brewed a year ago may have been a lifesaver
An $80-million investment at a Hamilton business park will allow a meat supplier to expand its facility, creating 100 new jobs in the city.Local developer Penta Properties says it has broken ground on a major expansion of a cold storage facility at the citys Red Hill Business Park on the east Mountain. The project
stanley cup s underway, and it full speed ahead, Angelo Paletta, CEO for Penta Properties, told The Spectator. ARTICLE CONTINUES BELOW The developers tenant, Sierra Supply Chain Services, which focuses on processing and storing meat,
stanley spain will more than double its freezer and cooler operations, expanding from its current 93,000 square feet to 250,000 square feet, according to a Dec. 2 media release. One thing that COVID has definitely created is a demand for storage of all kinds, Paletta said. Anyone that in the retail business today is
stanley cup now going to want to keep some product on hand to avoid any shortages that may arise. ARTICLE CONTINUES BELOW The new state-of-the-art cold storage facility is set to be energy efficient, accommodate advanced warehouse management systems and value-add services for companies that sell refrigerated products, the release reads. Our strong partnership with Penta Properties and the Paletta family is the bedrock of this expansion, Rob Vanden Broek, CEO of Sierra Supply Chain, said in the release. We have been operating in Hamilton for a nu