Bank Bonuses Rise 18% in Canada on Boom-Time Talent Battle (1)

Canada’s biggest banks shelled out 18% more for bonuses, unleashing the biggest increase in data going back nine years as the firms battled for talent to take advantage of a boom time in capital markets.

The country’s six largest lenders set aside C$19.1 billion ($14.9 billion) for performance-based compensation in their 2021 fiscal year. The increase trounced the 6.3% average for the past decade. Except for Toronto-Dominion Bank, all of Canada’s other six largest lenders increased bonuses by the most in data going back to 2013.

Canada’s banks are riding high on almost two years of torrid activity in ...