Big Six earnings buoyed by loan-loss clawbacks amid improving economic picture

The biggest banks in Canada are starting to claw back some of the loan-loss reserves they built up in the early days of the COVID-19 pandemic, a shift fuelled by an improving economic outlook and resilience among borrowers. Canadian Imperial Bank of Commerce and Toronto-Dominion Bank on Thursday became the latest members of the Big Six to report such recoveries, announcing releases or reversals of $89 million and $153...