Canadian Banks Exceed Views.

The article reports on the better-than-expected first-quarter earnings of three Canadian banks in 2009 despite increasing credit provisions and securities losses. There was a decline in net income of Royal Bank of Canada from 1.25 billion Canadian dollars in 2007 to 1.05 billion. The total charges of Canadian Imperial Bank of Commerce for the first quarter was 1.36 Canadian dollars a share. Charges related to holding of asset-backed commercial paper are said to be reflected in the net income decline of National Bank of Canada.