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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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Tragedy Sparks Reform: B.C. Premier Eby Announces Mental Health Act Overhaul

In the wake of the devastating Lapu-Lapu Day festival attack in Vancouver, which claimed 11 lives and left many injured, Premier David Eby has pledged to review and reform British Columbia's Mental Health Act. The suspect, who was under mental health care supervision, has raised concerns about the adequacy of current legislation in preventing such tragedies.

Eby emphasized the need for a comprehensive review to address gaps in the system and ensure public safety. Health Minister Josie Osborne will lead the initiative, supported by experts in psychiatry and concurrent disorders. While the timeline for the review remains unclear, the urgency of the matter has been underscored by calls for action from community leaders and officials.

This tragic incident has ignited a broader conversation about mental health care and public safety in the province, with many advocating for reforms that balance individual rights with community protection. The review aims to provide solutions that prevent future incidents while supporting those in need of mental health care.

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