Banks Focus on Staff Cuts, Provisions for Bad Loans in Q4 Ahead of Uncertain 2024

Banks Focus on Staff Cuts, Provisions for Bad Loans in Q4 Ahead of Uncertain 2024
National Bank President and CEO Laurent Ferreira addresses the Montreal Chamber of Commerce in Montreal on Sept. 21, 2023. The Canadian Press/Christinne Muschi
The Canadian Press
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Fewer employees and more money set aside for bad loans were two of the dominant themes of Canadian bank earnings this past quarter as they prepared for whatever may come next year.

Fourth quarter results that wrapped on Dec. 1 showed the country’s banks were preparing for a potentially tougher road ahead, but also that fears around a recession look to be fading.