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BNKZ - An Insider's Guide To The Banking Industry In A Lockdown Economy
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - BNKZ
Recent History
It has been Goldilocks times for banks in the last two years. Profits have been strong, loans have grown, interest margins have been solid, and problem loans have been low.
Two items of note have occurred in the past two years. The biggest item was the tax rate cut effective January 1, 2018 reducing the federal income tax rate from 35% to 21%. This had a major impact on the earnings of banks. Since then, earnings for most community banks have increased by 20-50%.