TD reported that it earned a profit of just over $3.5 billion in the three months up to the end of July. But one of the big factor's in the bank's profit increase was an improvement in its loan portfolio. CIBC profit up, tooIt was a similar story at CIBC, where profit increased to just over $1.7 billion for the quarter. But Duff Conacher, co-ordinator of watchdog group Democracy Watch, says the idea of a tax on excess bank profits is an idea that's long overdue. Conacher says all parties have been far too cozy with Canada's big banks over the years, "but the big question is why?

Source: CBC News August 26, 2021 15:51 UTC