Christine Dobby

BMO expects to record a net after-tax charge of about C$900 million in the third quarter, according to a statement May 11. Stonepeak will buy the businesses with a cash consideration, which wasn't disclosed, and an earnout that's contingent on certain targets.

Also: Milken is coming to Toronto

A shareholder activist group in Canada is shutting down after concluding that investor pressure alone isn’t enough to meaningfully influence financial and energy firms to address climate risks.

Also: What to expect from Canadian bank earnings

Bank of Nova Scotia topped estimates on better-than-forecast results at its Canadian banking division as the firm pushes to improve profitability at its most important unit.

Bank of Montreal topped estimates on better-than-forecast results at its capital-markets unit, following a pattern seen with US bank earnings amid elevated markets activity.

Foreign investors are increasingly looking at ways to deploy capital in Canada, a trend that’s extending to the country’s own pension funds, according to Bank of Nova Scotia Chief Executive Officer Scott Thomson.

Royal Bank of Canada topped estimates on better-than-expected results across most of its business lines and lower-than-forecast provisions for loan losses.

Toronto-Dominion Bank beat estimates on better-than-expected results in its capital-markets unit and a record for the quarter for its wealth division, with the company benefiting from higher client activity and asset appreciation amid volatile markets.

Bank of Montreal hired Trevor van Arragon from rival Toronto-Dominion Bank for a newly created role leading BMO’s Canadian business banking division.