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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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Turkey's Political Turmoil: Protests and Arrests Spark International Debate

Turkey has been gripped by widespread protests following the arrest of Istanbul Mayor Ekrem Imamoglu, a prominent political rival to President Recep Tayyip Erdogan. Authorities have detained nearly 1,900 individuals participating in demonstrations across the country. Imamoglu, accused of corruption and other charges, was jailed pending trial, a move critics argue is politically motivated to eliminate a potential electoral threat to Erdogan.

The protests, described as the largest anti-government demonstrations in a decade, have drawn attention from rights groups and Western leaders, who have expressed concerns about democratic backsliding in Turkey. Despite calls for peaceful protests, clashes between demonstrators and police have escalated, with reports of excessive force being used to disperse crowds.

Justice Minister Yilmaz Tunc defended the judiciary's decision, citing the gravity of the allegations against Imamoglu. Meanwhile, Erdogan dismissed the protests as a "show" and warned of legal consequences for participants.

The situation has sparked international criticism, with rights groups urging Turkey to investigate the use of force and allow peaceful demonstrations. As tensions rise, the political landscape in Turkey remains uncertain, with the opposition calling for continued protests and rallies.

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