Bloomberg Canada’s big banks don’t seem keen to follow Toronto-Dominion Bank’s lead on mortgage hikes — at least not all the way. Posted mortgage rates have diverged in the past week following rate hikes by Toronto-Dominion, Royal Bank of Canada, Canadian Imperial Bank of Commerce and National Bank of Canada. Bank of Nova Scotia and Bank of Montreal have stood …

Bloomberg Standard Chartered Plc’s Bill Winters is closing in on his return target after three years spent struggling to transform the emerging markets lender, but the bank hasn’t shaken off concerns about costs and growth. The lender posted the highest quarterly revenue of the chief executive’s tenure and warned expenses may escalate this year. Nevertheless, a 7 percent increase in …

Bloomberg Bank of America Corp. expects to book an $800 million pretax charge in the second quarter as it redeems $3.5 billion of trust preferred securities (TruPS), eliminating much of its remaining stockpile. Trust preferred securities are equity-like debt instruments that pay interest like bonds. Banks favoured issuing them during the financial crisis because they were treated like equity, and …