Preview of Banks' Q3 2008 Earnings

BMO Capital Markets, 12 August 2008We are expecting a better earnings performance than we have seen so far this year when Canadian banks start reporting their third-quarter results at the end of this month. Earnings, inclusive of several large identifiable items, will be down about 20% from year-ago levels but the degree of decline should be far more modest than in the last two quarters (Chart 1)