The Financial Post reports in its Saturday edition that Canada's biggest banks beat analysts' earnings expectations last week, which usually helps ease concerns linked to the economy, but that was not the case this time around. The Post's Naimul Karim writes that the banks' quarterly calls with analysts were dominated by questions about how President Donald Trump's proposed tariffs on Canadian products might affect the economy and, subsequently, the Big Six. Victor Dodig, CIBC's chief executive officer, said clients on both sides of the border were feeling "a little more tentative" due to the tariffs, but also said they were resilient during recent uncertain situations such as the surge in interest rates and currency volatility. "Clients are more resilient than one gives them credit for," Mr. Dodig said. An official at Fitch Ratings said the calls this week were "more uncomfortable than previous" discussions. The last time there were such "sticky calls" was when oil prices crashed and the Alberta economy struggled about a decade ago. Analysts acknowledged the positive performances over all, but their concerns are more about whether banks are ready for Mr. Trump's looming tariffs, specifically on the bad-loan front.
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