-
Toronto-Dominion Bank (The) (TD)
-
Bank of Nova Scotia (The) (BNS)
-
National Bank of Canada (NA)
-
Bank Of Montreal (BMO)
Q: Hello,
Over the years I have fallen into the trap of buying BNS as many analysts have promoted as the most international bank, as as a result I have 7.5% position. However, I have now come to the realization that the countries that they do business ( mainly South and Latin America) are in most cases very poor countries with little or no growth and unstable Governments.. As well, the bank's CEO's poor performance. Therefore, As soon as I hear what the new CEO has to say in a couple of weeks, I will slowly exit the position . What are you thoughts in moving the funds to TD or NA or BMO?
Thanks
Carlo
Thanks
Carlo Rea
Over the years I have fallen into the trap of buying BNS as many analysts have promoted as the most international bank, as as a result I have 7.5% position. However, I have now come to the realization that the countries that they do business ( mainly South and Latin America) are in most cases very poor countries with little or no growth and unstable Governments.. As well, the bank's CEO's poor performance. Therefore, As soon as I hear what the new CEO has to say in a couple of weeks, I will slowly exit the position . What are you thoughts in moving the funds to TD or NA or BMO?
Thanks
Carlo
Thanks
Carlo Rea
5i Research Answer:
While we believe that BNS can outperform other banks in better macroeconomic or global environments, it has underperformed this year. We continue to like the name and feel it adds good diversification across the Canadian banking landscape, but we would also be very comfortable with a switch to any of the other large Canadian bank names. Of the names listed, we like TD and feel that it has a good position in the Canadian banking landscape.