# Three of Canada’s banks capped a week of first-quarter earnings marked by a string of surging profits.

*fintech · news · 2026-02-26 · The Globe and Mail*

## Key points

- RBC is applying for banking licences to operate capital markets and wealth-management businesses in the Middle East.
- TD increased its planned workforce reduction from 2 per cent to 3 per cent as part of restructuring.
- CIBC's ROE reached 17.4 per cent this quarter, exceeding its previous 15 per cent target.
- All six of Canada's largest banks reported first-quarter profits surpassing analyst expectations.
- TD took a $200-million pretax restructuring charge related to anti-money-laundering remediation efforts this quarter.

**Companies:** Royal Bank of Canada, Toronto-Dominion Bank, Canadian Imperial Bank of Commerce, Bank of Montreal, National Bank of Canada, Bank of Nova Scotia
**Countries:** Canada

[Read the full story on The Globe and Mail](https://www.theglobeandmail.com/business/article-rbc-td-cibc-bank-earnings-first-quarter-trade-uncertainty/)

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