The myth behind BDC's 4.7% return on equity

1 response

  1. Craig Netterfield says:

    Let’s add in the fact that CWB paid $39.7 million in taxes for F2007 (a 29.2% tax rate).

    And BDC didn’t.

    If BDC paid the same tax rate on their $84.6 million of pre-tax income they would pay $24.7 million in taxes.

    So Net Income would be $59.9 million, or about 3.2% ROE.

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