Description: Canada’s top five banks recorded a profit of $29.4-billion in the last fiscal year. This is a healthy 5% growth from last year. As in the past, the increased profits were driven predominantly by demand for mortgages among Canadians.

Source: Financial Post

Date: December 06 2013

Link:  http://business.financialpost.com/2013/12/06/canadian-banks-deliver-record-29-billion-profit-this-year-but-are-the-good-times-coming-to-an-end/

Questions for Discussion:

1. Can the banks sustain this healthy growth?
2. Why is the mortgage market expected to decline?
3. Should the banks be worried that Canadians are today sitting on record debts, mostly in the form of mortgages?