​Banks could take 7 per cent hit from oil sector losses

​Banks could take 7 per cent hit from oil sector losses

​Banks could take 7 per cent hit from oil sector losses A new report from CIBC World Markets says that Canada’s banks could lose profits of up to 7 per cent from their exposure to the oil industry. However the note to clients from Rob Sedran said it would not be a banking crisis and that the losses would be manageable. He stressed that he did not see the oil industry exposure leading to banks struggling as they did during the financial crisis, rather that it should be viewed as part of a credit cycle.