Q: Eqb has done very well since U recommendation,but recently dropped off. In general the big 6 Can Banks had put aside lots of Provision for Credit Loss(PCL).How much did Eqb allocate pcl?In my humble opinion it is likely higher than the big 6 as it is basically a secondary mortgage lender.Add,Hold or Sell.Please comment. Txs for U usual great services & views
5i Research Answer:
In the 2Q, EQB had provisions for credit losses of $15M, well more than the prior year of $5.2M. On a percentage of total loans, this is actually lower than most banks.