"We're richer than you think." Canadian banks might as well all adopt this variation on Scotiabank's slogan as they rake in billions of dollars in profit — even as they raise fees on their customers. Major financial institutions including Scotiabank, CIBC and TD Bank are raising various charges on their customers after seeing healthy returns in the second quarter of 2016, CBC News reported Monday.

A Bank of Nova Scotia (Scotiabank) sign is seen outside of a branch in Ottawa, Ont. on May 31, 2016. (Photo: Chris Wattie/Reuters) Such increases might surprise (and annoy) some customers. But they're likely not a shock to Adam Mayers, personal finance editor at The Toronto Star. "The bad news is that to keep making that kind of money, [the banks are] looking under every rock for revenue sources, including fees," he wrote earlier this year, in a column predicting more fee hikes ahead. But Mayers also said that customers have some leverage when it comes to banking fees. He said financial institutions are concerned about low-fee mobile banking offerings, such as EQ Bank, which operates exclusively online.