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Big Bank Earnings Wrap: What RBC and CIBC Reveal About Your Mortgage

  Royal Bank and CIBC reported record or near-record profits before the market opened Thursday, closing out a jam-packed bank earnings week that also included BMO, Scotiabank and National Bank. Beyond the headline numbers, though, the details tucked into these reports say a lot about where mortgage rates, lending standards and household credit stress are actually heading — and it's a more reassuring picture than a lot of the tariff-and-tension headlines this month might suggest. RBC: Record Profit, Credit Quality Barely Budged Royal Bank of Canada posted net income of $6.0 billion for the quarter ended July 31, up 11% from a year earlier and a record for the bank. Diluted earnings per share came in at $4.23, up 13% year-over-year, while return on equity climbed to 17.9%. The number worth watching for anyone with a mortgage isn't the profit line — it's the provision for credit losses (PCL), the money banks set aside for loans that might go bad. RBC's total PCL was $1.0 b...
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A Symbol of Hope: Tiny Christmas Tree Amidst Church Ruins in Lebanon

 

In the southern Lebanese town of Dardghaya, amidst the ruins of the 18th-century St. George Melkite Catholic Church, a tiny Christmas tree now stands as a symbol of hope and resilience. The church, devastated by an Israeli airstrike in October, once served as a vibrant community center. 

Georges Elia, a 40-year-old municipal worker and churchgoer, took it upon himself to bring some normalcy to the holiday season. "This year, Christmas is arriving with sadness for us, but we didn't want it to be a sad one for the town's residents and its church," Elia said. 

The modest tree, shorter than Elia himself, is decorated with a shining garland and a star. Despite the lack of lights and a traditional Nativity scene due to the war's destruction, the tree stands tall among the fallen stones and shattered pews. "But, of course, Christ is born in our hearts, lit with our love for him," Elia added.

The church's priest, Father Maurice el Khoury, who has served for 11 years, conducts Sunday Mass in a small underground room that once housed visiting bishops. "This room is more like the cave where Jesus was born," he said, reminding families of the true essence of the holiday season.

The community's faith remains unshaken, and despite the staggering financial toll of the damage, estimated at nearly $3 million, they continue to celebrate Christmas with hope and love.



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