According to the Dominion Bond Rating Service, the exposure of Canadian banks to the American sub-prime mortgage market problem is quite limited. Did you know that during the Great Depression, there were no Canadian bank failures, unlike the United States where there were approximately 9,000 bank failures during the 1930's. Canadian banks have been generating solid earnings and generate decent yields. Here are the largest ones which you might want to put your money into.
Bank of Nova Scotia (BNS) is Canada's third-largest bank , founded in 1832 and is headquartered in Toronto, Canada. It has over 2200 branches. The P/E is 13.15, the PEG is 1.38, and it pays a yield of 3.3%.
Canadian Imperial Bank of Commerce (CM) was founded in 1867 and is also headquartered in Toronto, Canada, with over 1,000 branches. The stock has a P/E of 1.37, the PEG is 1.14, and the yield is 2.9%.
Royal Bank of Canada (RY) is the largest financial institution in Canada. It was founded in 1864, and has over 1400 branches. The stock's P/E is 13.04, the PEG is 1.62, and the yield is 3.30%.
Toronto-Dominion Bank (TD) is the second largest bank in Canada, founded in 1855. It has approximately 600 branches. The P/E is 14.79, the PEG is 1.19, and the yield is 2.70%.
Bank of Montreal (BMO) is the oldest bank in Canada and its fourth largest. It was founded in 1817 and is headquartered in Montreal, Canada, with over 960 branches. The P/E is 13.64, the PEG is 1.89, and the stock pays a yield of 4.10%.
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Author does not own any of the above.
By Fred Fuld at Stockerblog.com
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