OPEN FOR BUSINESS
KENROC BUILDING MATERIALS CO. LTD.
7610 Edgar Industrial Dr.
Red Deer
403-309-4667
l General manager
Joey Vansdal
l Type of business
Sales of drywall, ceiling systems, roofing materials, stucco, steel framing, insulation, tools and other building products to contractors and members of the public.
l Opening date
May 1
SARA
4747 67th St.
Parkland Mall
403-347-7203
• Owner
Sara Shaibani
•Type of business
Women’s wear for special occasions, including shoes, handbags and other accessories.
•Opening date
Feb. 27
New business that have opened in Central Alberta within the past three months and wish to be listed here can send their information to Harley Richards by email (hrichards@bprda.wpengine.com) or fax (403-341-5309).
Banks healthier
From the woulda-coulda-shoulda file: Royal Bank stock was on sale in late February for less than $26, and the other Canadian banks were similarly discounted. Shares in the Royal, Canada’s biggest bank, closed Friday at $42.25, still off from over $50 last September but up by 65 per cent from the grim days of late winter. The Big Five as a group have staged a dramatic revival: gains since early March range from close to 50 per cent for Toronto-Dominion (TSX:TD), Canadian Imperial Bank of Commerce (TSX:CM) and Scotiabank (TSX:BNS) to almost 70 per cent for Bank of Montreal (TSX:BMO). Most analysts don’t see this being seriously dented when the banks roll out quarterly reports this week, with a caveat that bank profits are closely linked to general prosperity. Earnings per share are expected to be down from a year ago — by perhaps eight to 20 per cent overall, analysts project — because of slower revenue growth and higher loan-loss provisions in a dreary economy. “Green shoots aside, GDP continues to be negative with negative implications for PCLs (provisions for credit losses) and loan growth,” commented UBS Securities analyst Peter Rozenberg. “While loan pricing is increasing and funding costs have reduced, low interest rates are hurting margins.” On the positive side, Rozenberg added, the outlook for capital markets has improved due to increased market consolidation, wider trading spreads, and improved financial markets. BMO reports Tuesday on the February-April period, the second quarter of the banking year, followed Thursday by Scotiabank, CIBC, TD, and No. 6 National Bank of Canada. The Royal reports Friday.
