Tang to bring in unsecured LOC, more mutual funds | Tangerine Bank | Discussion forum

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Tang to bring in unsecured LOC, more mutual funds
April 14, 2017
2:34 am
Forum Posts: 9108
Member Since:
October 21, 2013
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April 14, 2017
7:06 am
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February 17, 2013
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"Tangerine has seen dwindling profit since being bought: Last year’s annual profit was down 36 percent from 2015, and about half what it was the Scotiabank bought the business, filings show."


April 14, 2017
9:51 am
BC Interior
Forum Posts: 2651
Member Since:
October 27, 2013
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Except one should add the next bit too....

Rideout points to “a tremendous amount of investment" since Scotiabank’s takeover, including changing signs, redesigning the mobile app and adding products such credit cards. With many of those costs now behind it, Tangerine can start working to improve its financial performance, she said.

“There’s no doubt our focus is going to be on increasing revenue and decreasing expenses,” she said. “With such a broad product set, we should be able to do that."

That said, people have left Tang for good reason, especially the nonsense on their promos. Would be better just to compete at the 1.7-1.8% steady-as-she-goes level and cut out front line CSR labour burden needed to service that. Being a BNS shareholder, I want to see Tang's profits shine again.

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