Donald Trump’s victory could be a boon for these Canadian banks

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Bank of Montreal likely to benefit most from Republicans’ proposed tax cuts and focus on reshoring, analysts say

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Published on October 29, 2024 • Last updated 1 hour ago • 4 minutes reading

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Republican presidential candidate Donald Trump speaks during a campaign rally at Madison Square Garden in New York. Photo by Evan Vucci/Associated Press

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A second term for Donald Trump as president of the United States could have a possible impact Canadian banking sector more than a win of Kamala Harris because of his proposed corporate tax cuts and aggressive focus on re-shoring, some analysts say.

In such a scenario, Canadian banks that have the most exposure in the United States would likely benefit the most from a Trump presidency, CIBC Capital Markets analyst Paul Holden said, but Vice President Harris would not change the banks’ current outlook. so much.

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