B2B Bank, Inc. provides banking products and services. It offers third-party investment and RSP loans; distribution alliance mutual fund and segregated fund loans; and distribution alliance RSP loan programs. The company also provides residential, rental, vacation/secondary home, and re-advance mortgages; business for self-mortgage solutions; and lines of credit mortgages. In addition, it offers high interest investment accounts, high interest savings accounts, unsecured line of credit accounts, and money maximizer accounts; short-term and long-term guaranteed investment certificates; and investment accounts and services, such as mutual funds and others through dealer services. It serves fin...
199 Bay Street
STN Commerce Court
P.O. Box 279
Toronto, ON M5L 0A2
Founded in 1991
B2B Bank Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended July 31, 2015
Sep 2 15
B2B Bank announced unaudited earnings results for the third quarter and nine months ended July 31, 2015. For the quarter, the company reported total revenue of CAD 54,548,000 compared to CAD 53,206,000 a year ago. Income before income taxes was CAD 19,697,000 against CAD 17,837,000 for the same period in the last year. Net income was CAD 14,311,000 compared with CAD 13,035,000 for the same period of 2014. Net interest income was CAD 45,896,000 against CAD 44,402,000 a year ago. Adjusted net income was CAD 15,436,000 compared to CAD 15,293,000 a year ago.
For the nine months, the company reported total revenue of CAD 155,476,000 compared to CAD 160,989,000 a year ago. Income before income taxes was CAD 50,655,000 against CAD 44,743,000 for the same period in the last year. Net income was CAD 36,866,000 compared with CAD 31,550,000 for the same period of 2014. Net interest income was CAD 129,568,000 against CAD 133,976,000 a year ago. Adjusted net income was CAD 40,199,000 compared to CAD 45,930,000 a year ago.
B2B Bank and Canoe Financial LP Signs Agreements for the Distribution of Investment and RSP Loans
Mar 6 15
B2B Bank and Canoe Financial LP have signed agreements for the distribution of investment and RSP loans. Under the terms of these agreements, B2B Bank will offer preferred rates on investment and RSP loans to Canadian investors who purchase eligible Canoe mutual funds through licensed financial advisors.
B2B Bank, Inc. Announces Unaudited Earnings Results for the First Quarter Ended January 31, 2015
Feb 26 15
B2B Bank, Inc. announced unaudited earnings results for the first quarter ended January 31, 2015. Adjusted net income was CAD 13.5 million for the first quarter of 2015, down CAD 3.7 million from CAD 17.2 million for the first quarter of 2014. Reported net income for the first quarter of 2015 was CAD 12.4 million compared with CAD 13.4 million for the same quarter a year ago. Total revenue decreased to CAD 50.8 million for the first quarter of 2015 from CAD 55.3 million for the first quarter of 2014. Net interest income decreased by CAD 4.1 million to CAD 42.1 million for the first quarter of 2015 compared with the corresponding period in 2014. This decrease mainly stems from the attrition in the high-margin investment loans incurred over the last 18 months. Income before income taxes was CAD 16,996,000 against CAD 18,392,000 a year ago. Compared with the fourth quarter of 2014, adjusted net income increased by CAD 1.8 million, mainly as a result of the sequential decrease in other expenses and lower provisions for loan losses. The decrease in net interest income is mainly due to the slightly lower volume of investment loans, as repayments exceeded the relatively stronger disbursement level, as well as the sequential reduction in brokered deposit volumes.