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Power Financial Reports Second Quarter 2019 Financial Results



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Power Financial Corporation (TSX: PWF) today reported earnings results for the three and six months ended June 30, 2019.

Power Financial
Consolidated results for the period ended June 30


  • On April 17, 2019, Power Financial successfully completed its substantial issuer bid to repurchase for cancellation $1.65 billion of its common shares representing 7% of its issued and outstanding shares.
  • Sales at Great-West Lifeco Inc. (Lifeco) for the second quarter of 2019 were $34.3 billion, up 4% from the second quarter of 2018, primarily driven by higher sales in Europe.
  • On June 1, 2019, Great-West Life & Annuity (GWL&A) completed the sale of substantially all of its individual life insurance and annuity business to Protective Life Insurance Company. The transaction, valued at $1.6 billion, frees up capital and allows Lifeco to focus on the defined contribution retirement and asset management markets in the U.S. segment.
  • IGM Financial Inc. (IGM) reported record quarter-end assets under management at June 30, 2019 of $162.3 billion, an increase of 1.2% in the quarter and 2.0% from the prior year driven by favourable investment returns.
  • Groupe Bruxelles Lambert (GBL) finalized in March and April 2019 its exit from the energy sector by selling its remaining interest in Total SA through forward sales maturing in January 2020. In the quarter, GBL also sold a 0.7% interest in adidas AG (adidas).
  • On July 9, 2019, GBL announced that it had entered into exclusive negotiations to acquire a majority stake in the Webhelp group, one of the world’s leading providers of customer experience and business process outsourcing.

Second Quarter 
Net earnings attributable to common shareholders were $443 million or $0.66 per share, compared with $658 million or $0.92 per share in 2018.

Adjusted net earnings attributable to common shareholders (a non-IFRS financial measure) were $589 million or $0.88per share, compared with $658 million or $0.92 per share in 2018.

Other items in 2019, not included in adjusted net earnings, were a net charge of $146 million consisting of the Corporation’s share of Lifeco’s net charge on the sale of GWL&A’s individual life insurance and annuity business in the U.S. and the Corporation’s share of Imerys’ restructuring and other charges.

The Corporation participated Lifeco’s substantial issuer bid to repurchase for cancellation $2.0 billion of its common shares. Power Financial’s proceeds from its participation in the Lifeco substantial issuer bid were $1.65 billion. As a result, the Corporation’s direct interest in Lifeco decreased to 66.8% (67.8% at March 31, 2019).

Contributions to Power Financial’s net earnings and adjusted net earnings were:

(in millions of dollars)



Net Earnings

Adjusted Net 

Net Earnings 
Adjusted Net Earnings









Pargesa Holding SA (Pargesa)




Power Financial Corporate and Other







Six Months 
Net earnings attributable to common shareholders were $979 million or $1.41 per share, compared with $1,244 million or $1.74 per share in 2018.

Adjusted net earnings attributable to common shareholders were $1,125 million or $1.62 per share, compared with $1,244 million or $1.74 per share in 2018.

Other items in the six-month period ended June 30, 2019 were as described above.

Contributions to Power Financial’s net earnings and adjusted net earnings were:

(in millions of dollars)



Net Earnings

Adjusted Net 

Net Earnings 
Adjusted Net Earnings













Power Financial Corporate and Other







Great-West Lifeco, IGM Financial and Pargesa 
Results for the period ended June 30


Second Quarter 
Net earnings attributable to common shareholders were $459 million or $0.49 per share and adjusted net earnings were $658 million or $0.70 per share, compared with net earnings and adjusted net earnings of $831 million or $0.84per share in 2018.

Lifeco’s net earnings for the second quarter of 2019 included a net charge of $199 million relating to the sale, via indemnity reinsurance, of the U.S. individual life insurance and annuity business, which reduced earnings per common share by $0.21.

Six Months 
Net earnings attributable to common shareholders were $1,116 million or $1.16 per share and adjusted net earnings were $1,315 million or $1.37 per share, compared with net earnings and adjusted net earnings of $1,562 million or $1.58 per share in 2018.


Second Quarter 
Net earnings available to common shareholders were $185 million or $0.77 per share and adjusted net earnings were $193 million or $0.81 per share, compared with net earnings and adjusted net earnings of $203 million or $0.85 per share in 2018. Other items, not included in net earnings, of $8 million in the second quarter consisted of IGM’s share of Lifeco’s other items.

Six Months 
Net earnings available to common shareholders were $353 million or $1.47 per share and adjusted net earnings were $361 million or $1.50 per share, compared with net earnings and adjusted net earnings of $389 million or $1.61 per share in 2018.


Second Quarter 
Pargesa reported net earnings of SF134 million, compared with SF152 million in 2018. See contribution to Power Financial’s earnings in the tables below.

Six Months 
Pargesa reported net earnings of SF225 million, compared with SF213 million in 2018.

Dividends on Power Financial Common Shares

The Board of Directors today declared a quarterly dividend of 45.55 cents on the Corporation’s common shares, payable November 1, 2019 to shareholders of record September 30, 2019.

Dividends on Power Financial Preferred Shares

The Board of Directors also declared quarterly dividends on the Corporation’s preferred shares.

Dividends payable November 15, 2019 to shareholders of record October 25, 2019:

Series – Stock Symbol


Series A – PWF.PR.A

Floating rate [1]

[1] Equal to one quarter of 70% of the average prime rate of two major Canadian chartered banks for the period July 1 to September 30, 2019.

Dividends payable October 31, 2019 to shareholders of record October 10, 2019:


Stock Symbol



Stock Symbol


Series D



Series O



Series E



Series P



Series F



Series Q



Series H



Series R



Series I



Series S



Series K



Series T



Series L



Series V




SOURCE Power Financial Corporation


How to identify authenticity in crypto influencer channels




Modern brands stake on influencer marketing, with 76% of users making a purchase after seeing a product on social media.The cryptocurrency industry is no exception to this trend. However, promoting crypto products through influencer marketing can be particularly challenging. Crypto influencers pose a significant risk to a brand’s reputation and ROI due to rampant scams. Approximately 80% of channels provide fake statistics, including followers counts and engagement metrics. Additionally, this niche is characterized by high CPMs, which can increase the risk of financial loss for brands.

In this article Nadia Bubennnikova, Head of agency Famesters, will explore the most important things to look for in crypto channels to find the perfect match for influencer marketing collaborations.



There are several levels related to this point.



Analyze approximately 10 of the channel’s latest videos, looking through the comments to ensure they are not purchased from dubious sources. For example, such comments as “Yes sir, great video!”; “Thanks!”; “Love you man!”; “Quality content”, and others most certainly are bot-generated and should be avoided.

Just to compare: 


Don’t rush to conclude that you’ve discovered the perfect crypto channel just because you’ve come across some logical comments that align with the video’s topic. This may seem controversial, but it’s important to dive deeper. When you encounter a channel with logical comments, ensure that they are unique and not duplicated under the description box. Some creators are smarter than just buying comments from the first link that Google shows you when you search “buy YouTube comments”. They generate topics, provide multiple examples, or upload lists of examples, all produced by AI. You can either manually review the comments or use a script to parse all the YouTube comments into an Excel file. Then, add a formula to highlight any duplicates.


It is also a must to check the names of the profiles that leave the comments: most of the bot-generated comments are easy to track: they will all have the usernames made of random symbols and numbers, random first and last name combinations, “Habibi”, etc. No profile pictures on all comments is also a red flag.



Another important factor to consider when assessing comment authenticity is the posting date. If all the comments were posted on the same day, it’s likely that the traffic was purchased.


2. Average views number per video

This is indeed one of the key metrics to consider when selecting an influencer for collaboration, regardless of the product type. What specific factors should we focus on?

First & foremost: the views dynamics on the channel. The most desirable type of YouTube channel in terms of views is one that maintains stable viewership across all of its videos. This stability serves as proof of an active and loyal audience genuinely interested in the creator’s content, unlike channels where views vary significantly from one video to another.

Many unauthentic crypto channels not only buy YouTube comments but also invest in increasing video views to create the impression of stability. So, what exactly should we look at in terms of views? Firstly, calculate the average number of views based on the ten latest videos. Then, compare this figure to the views of the most recent videos posted within the past week. If you notice that these new videos have nearly the same number of views as those posted a month or two ago, it’s a clear red flag. Typically, a YouTube channel experiences lower views on new videos, with the number increasing organically each day as the audience engages with the content. If you see a video posted just three days ago already garnering 30k views, matching the total views of older videos, it’s a sign of fraudulent traffic purchased to create the illusion of view stability.


3. Influencer’s channel statistics

The primary statistics of interest are region and demographic split, and sometimes the device types of the viewers.


When reviewing the shared statistics, the first step is to request a video screencast instead of a simple screenshot. This is because it takes more time to organically edit a video than a screenshot, making it harder to manipulate the statistics. If the creator refuses, step two (if only screenshots are provided) is to download them and check the file’s properties on your computer. Look for details such as whether it was created with Adobe Photoshop or the color profile, typically Adobe RGB, to determine if the screenshot has been edited.


After confirming the authenticity of the stats screenshot, it’s crucial to analyze the data. For instance, if you’re examining a channel conducted in Spanish with all videos filmed in the same language, it would raise concerns to find a significant audience from countries like India or Turkey. This discrepancy, where the audience doesn’t align with regions known for speaking the language, is a red flag.

If we’re considering an English-language crypto channel, it typically suggests an international audience, as English’s global use for quality educational content on niche topics like crypto. However, certain considerations apply. For instance, if an English-speaking channel shows a significant percentage of Polish viewers (15% to 30%) without any mention of the Polish language, it could indicate fake followers and views. However, if the channel’s creator is Polish, occasionally posts videos in Polish alongside English, and receives Polish comments, it’s important not to rush to conclusions.

Example of statistics


Wrapping up

These are the main factors to consider when selecting an influencer to promote your crypto product. Once you’ve launched the campaign, there are also some markers to show which creators did bring the authentic traffic and which used some tools to create the illusion of an active and engaged audience. While this may seem obvious, it’s still worth mentioning. After the video is posted, allow 5-7 days for it to accumulate a basic number of views, then check performance metrics such as views, clicks, click-through rate (CTR), signups, and conversion rate (CR) from clicks to signups.

If you overlooked some red flags when selecting crypto channels for your launch, you might find the following outcomes: channels with high views numbers and high CTRs, demonstrating the real interest of the audience, yet with remarkably low conversion rates. In the worst-case scenario, you might witness thousands of clicks resulting in zero to just a few signups. While this might suggest technical issues in other industries, in crypto campaigns it indicates that the creator engaged in the campaign not only bought fake views and comments but also link clicks. And this happens more often than you may realize.

Summing up, choosing the right crypto creator to promote your product is indeed a tricky job that requires a lot of resources to be put into the search process. 

Author Nadia Bubennikova, Head of agency  at Famesters


Nadia Bubennikova, Head of agency at Famesters

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Central banks and the FinTech sector unite to change global payments space





The BIS, along with seven leading central banks and a cohort of private financial firms, has embarked on an ambitious venture known as Project Agorá.

Named after the Greek word for “marketplace,” this initiative stands at the forefront of exploring the potential of tokenisation to significantly enhance the operational efficiency of the monetary system worldwide.

Central to this pioneering project are the Bank of France (on behalf of the Eurosystem), the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Bank of England, and the Federal Reserve Bank of New York. These institutions have joined forces under the banner of Project Agorá, in partnership with an extensive assembly of private financial entities convened by the Institute of International Finance (IIF).

At the heart of Project Agorá is the pursuit of integrating tokenised commercial bank deposits with tokenised wholesale central bank money within a unified, public-private programmable financial platform. By harnessing the advanced capabilities of smart contracts and programmability, the project aspires to unlock new transactional possibilities that were previously infeasible or impractical, thereby fostering novel opportunities that could benefit businesses and consumers alike.

The collaborative effort seeks to address and surmount a variety of structural inefficiencies that currently plague cross-border payments. These challenges include disparate legal, regulatory, and technical standards; varying operating hours and time zones; and the heightened complexity associated with conducting financial integrity checks (such as anti-money laundering and customer verification procedures), which are often redundantly executed across multiple stages of a single transaction due to the involvement of several intermediaries.

As a beacon of experimental and exploratory projects, the BIS Innovation Hub is committed to delivering public goods to the global central banking community through initiatives like Project Agorá. In line with this mission, the BIS will soon issue a call for expressions of interest from private financial institutions eager to contribute to this ground-breaking project. The IIF will facilitate the involvement of private sector participants, extending an invitation to regulated financial institutions representing each of the seven aforementioned currencies to partake in this transformative endeavour.

Source: fintech.globa

The post Central banks and the FinTech sector unite to change global payments space appeared first on HIPTHER Alerts.

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TD Bank inks multi-year strategic partnership with Google Cloud





TD Bank has inked a multi-year deal with Google Cloud as it looks to streamline the development and deployment of new products and services.

The deal will see the Canadian banking group integrate the vendor’s cloud services into a wider portion of its technology solutions portfolio, a move which TD expects will enable it “to respond quickly to changing customer expectations by rolling out new features, updates, or entirely new financial products at an accelerated pace”.

This marks an expansion of the already established relationship between TD Bank and Google Cloud after the group previously adopted the vendor’s Google Kubernetes Engine (GKE) for TD Securities Automated Trading (TDSAT), the Chicago-based subsidiary of its investment banking unit, TD Securities.

TDSAT uses GKE for process automation and quantitative modelling across fixed income markets, resulting in the development of a “data-driven research platform” capable of processing large research workloads in trading.

Dan Bosman, SVP and CIO of TD Securities, claims the infrastructure has so far supported TDSAT with “compute-intensive quantitative analysis” while expanding the subsidiary’s “trading volumes and portfolio size”.

TD’s new partnership with Google Cloud will see the group attempt to replicate the same level of success across its entire portfolio.


The post TD Bank inks multi-year strategic partnership with Google Cloud appeared first on HIPTHER Alerts.

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