Winnipeg Free Press
By: Tara Deschamps, The Canadian Press
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TORONTO - Canadian banks had a strong second quarter, where they beat expectations and began to wind down reserves built up to protect themselves from customers defaulting on loans.
Bank skyscrapers are seen from Bay Street in Toronto's financial district, on Wednesday, June 16, 2010. THE CANADIAN PRESS/Adrien Veczan
TORONTO - Canadian banks had a strong second quarter, where they beat expectations and began to wind down reserves built up to protect themselves from customers defaulting on loans.
Their performance was the product of a cautious approach they applied to the COVID-19 pandemic and the diversification that executives said created stability across all arms of their businesses.