Canadian banks have had a strong year so far, with consumer loan growth being driven by a rebounding domestic real estate market and commercial loan growth up from 2012. Commercial loan growth is expected to remain strong in the medium term though Canadian consumers may start to deleverage.
“After a surprisingly good spring and summer selling season for domestic real estate, it is no surprise that year-over-year loan growth accelerated in July,” writes Tom MacKinnon in a recent comment from Bank of Montreal’s Equity Research division. Loan growth was up 6.7 percent in July, compared to 6.2 percent in June and 7 percent July 2012, based on Bank of Canada data.
Consumer...
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