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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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Healthy Meals: Restaurant-Style Beef and Broccoli

               beef, broccoli, green onions, and red peppers on plate with rice in the background

Ingredients

  • ⅓ cup oyster sauce
  • ⅓ cup sherry
  • 2 teaspoons toasted sesame oil
  • 1 teaspoon soy sauce
  • 1 teaspoon white sugar
  • 1 teaspoon cornstarch
  • ¾ pound beef round steak, cut into 1/8-inch thick strips
  • 3 tablespoons vegetable oil, plus more if needed
  • 1 thin slice of fresh ginger root
  • 1 clove garlic, peeled and smashed
  • 1 pound broccoli, cut into florets

Directions

  1. 1.  Whisk oyster sauce, sherry, sesame oil, soy sauce, sugar, and cornstarch together in a bowl; stir until sugar has dissolved.

  2. 2.  Place steak in a shallow bowl. Pour oyster sauce mixture over meat and stir to coat; cover and marinate in the refrigerator for at least 30 minutes.

  3. 3.  Heat vegetable oil in a wok or large skillet over medium-high heat. Add ginger and garlic; let sizzle for about 1 minute to flavor oil, then remove and discard. Stir in broccoli. Toss and stir until bright green and almost tender, 5 to 7 minutes. Remove broccoli from the wok and set aside.

  4. 4.  Add a little more oil to the wok, if needed, then add beef with marinade. Stir and toss until sauce thickens and turns shiny and meat is no longer pink, about 5 minutes. Return broccoli to the wok; stir until heated through, about 3 minutes.

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