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Six Canadian lenders including Royal Bank of Canada and Toronto-Dominion Bank reached record highs this week, extending a North American bank rally as analysts predict higher profits.

Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada and Laurentian Bank of Canada also reached peaks, helping extend the eight-company S&P/TSX Commercial Banks Index’s streak of record highs for the fourth straight day. Bank of Montreal rose, though remained 8 cents short of its all-time high.

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The Canadian banks begin reporting fiscal first-quarter results next week, with CIBC scheduled for Feb. 23. The six largest lenders are expected to post a 7 per cent increase in adjusted profit from a year ago, led by Scotiabank with a predicted 11 per cent jump, Cormark Securities Inc. analyst Meny Grauman said Monday in a note to clients.

“It is probably an exaggeration to suggest that the outlook for Canadian banks is all sunshine and lollipops, but we do believe that there is reason to be optimistic about bank results,” heading into earnings, Grauman said.