B2B Bank, Inc. provides banking products and services to financial advisors and their dealerships; deposit and mortgage brokers, and their firms; mutual fund and insurance manufacturers; and MFDA and IIROC members in Canada. It offers third-party investment and RSP loans; mortgages; banking services; deposits; and investment accounts and services, such as mutual funds, GICs, and more through dealer services. B2B Bank, Inc. was formerly known as B2B Trust Inc. and changed its name to B2B Bank, Inc. in July, 2012. The company was founded in 1991 and is based in Toronto, Canada. B2B Bank, Inc. operates as a subsidiary of Laurentian Bank of Canada.
199 Bay Street
STN Commerce Court
P.O. Box 279
Toronto, ON M5L 0A2
Founded in 1991
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.
B2B Bank Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended October 31, 2013
Dec 11 13
B2B Bank reported unaudited earnings results for the fourth quarter and full year ended October 31, 2013. For the quarter, the company reported net interest income of CAD 46,072,000 compared to CAD 49,821,000 a year ago. Total revenue was CAD 55,478,000 compared to CAD 58,744,000 a year ago. Income before income taxes was CAD 7,195,000 compared to CAD 34,843,000 a year ago. Net income was CAD 5,160,000 compared to CAD 25,193,000 a year ago. Adjusted net income was CAD 13,213,000 compared to CAD 15,694,000 a year ago.
For the year, the company reported net interest income of CAD 190,928,000 compared to CAD 143,593,000 a year ago. Total revenue was CAD 227,633,000 compared to CAD 178,183,000 a year ago. Income before income taxes was CAD 42,309,000 compared to CAD 67,884,000 a year ago. Net income was CAD 30,894,000 compared to CAD 49,448,000 a year ago. Adjusted net income was CAD 62,246,000 compared to CAD 49,600,000 a year ago. Net interest income increased by CAD 47.3 million compared to last year, mostly from the additional contribution of AGF Trust to net interest income, and totalled CAD 190.9 million for the year ended October 31, 2013.