Log In
Register
Home
Topic RSS
Facebook
Twitter
Email this7:05 am
September 15, 2017
Offline
1 yr. GIC now 3.65% p.a., 1 1/2 yrs. & 2 yrs. now 3.75% p.a., 3 yrs. now 3.70% p.a.
7:34 am
February 7, 2019
Offline
GR said
1 yr. GIC now 3.65% p.a., 1 1/2 yrs. & 2 yrs. now 3.75% p.a., 3 yrs. now 3.70% p.a.
And some people thought Oaken was crazy for not dropping!
| CGO |
9:26 am
October 27, 2013
Offline
1-5 year bond yields are increasing, so GIC yields generally follow. Bond yields are, more or less, up 10bp since the end of October.
That is different from HISA rates which, more or less, track Bank of Canada, overnight rates.
11:27 am
January 12, 2019
Offline
GR said
1 yr. GIC now 3.65% p.a., 1 1/2 yrs. & 2 yrs. now 3.75% p.a., 3 yrs. now 3.70% p.a.
. . . True ⬆️
But when you consider their 4 & 5 Yr GICs, their rates get quite Disappointing.
And as the new majority owners take over, we can expect W1BoC's GIC rates to go Lower over-time, as they work toward finally making W1BoC profitable.
Yes ...'The Worst' is yet to come . . .
- Dean
" Live Long, Healthy ... And Prosper! "
12:27 pm
April 6, 2013
Offline
Wealth One Bank's lack of profit is not because of its deposit rates.
In a July 7, 2025 Globe & Mail article, previous CEO Paul Leonard explained that the bank's assets (its loans) are not large enough yet to generate the earnings needed to offset its compliance costs and other expenses.
The bank needs to grow its assets (around $516 million) to the $750-million to $800-million area to break even.
1:08 pm
January 12, 2019
Offline
.
Thanks for that ⬆️, Norman.
That would suggest that W1BoC has a Looong way to go, before even breaking even.
That's not a good scenario, but hopefully the new majority owners will be able to Eventually make it happen. Such a Large growth in assets will take a good bit of time, so I'm guessing we're looking at a few years down the road before they are able to break even.
In the meantime ... there is still the likelihood that the new owners will Lower W1BoCs deposit rates, to help reduce some of their ongoing losses.
Time will tell . . .
- Dean
" Live Long, Healthy ... And Prosper! "
Please write your comments in the forum.