Desjardins Group presents results that demonstrate its collective strength, benefiting members, clients and communities

LÉVIS, QC, Feb. 24, 2026 /CNW/ – The results announced today by Desjardins Group give it all the leverage it needs to continue its mission of driving community development and giving its members and clients the support they need to be financially empowered. For fiscal 2025, the provision for member dividends stood at $505 million, compared to $437 million in fiscal 2024, an increase of 15.6%. Amounts returned in the form of sponsorships, donations and scholarships totalled $133 million, of which $69 million came from the caisses’ Community Development Fund.

Desjardins Group recorded surplus earnings before member dividends of $3,811 million for fiscal 2025, up $455 million, or 13.6%, from fiscal 2024. This increase was due in particular to the performance of the Personal and Business Services segment, which benefited from growth in net interest income mainly due to business growth, partly offset by an increase in the provision for credit losses. The Wealth Management and Life and Health Insurance segment recorded growth in other income and higher net insurance service income, due in particular to favourable developments in financial markets. The Property and Casualty Insurance segment also performed well, in line with fiscal 2024. The surplus earnings growth was offset by an increase in non-interest expense, which supported business growth and enhanced the services offered to members and clients. In addition, Desjardins continued to diversify its funding sources by issuing a record number of bonds in six different currencies.

For the fourth quarter ended December 31, 2025, Desjardins Group recorded surplus earnings before member dividends of $1,058 million, up $232 million from the corresponding period in 2024. This included higher net interest income related to business growth, an increase in other income, and a decrease in the provision for credit losses for the Personal and Business Services segment. In addition, a higher net insurance finance result, mainly due to favourable developments in the financial markets, helped drive performance in the Wealth Management and Life and Health Insurance segment. Finally, it should be noted that initiatives aimed at supporting business growth and enhancing the service offering to members and clients explain the increase in non‑interest expenses.

“The results we are announcing today are driven by the trust of more than 10 million members and clients across Canada,” said Denis Dubois, President and Chief Executive Officer. “This year, we are raising our dividend by nearly 16%, to $505 million. This reflects the strength of the cooperative model and our resolve to grow while remaining true to our mission and values. The more Desjardins grows, the more we generate tangible benefits for people and communities. This performance gives us the means to continue investing where it counts, for economic and social development across the country.”

Supporting health, entrepreneurship, and innovation across Quebec and Ontario

Through the GoodSpark Fund, which aims to stimulate social and economic activity in communities, Desjardins contributes to community development and economic vitality. Since 2017, nearly 1,000 projects have been supported, totalling $228 million in commitments across all the regions of Quebec and Ontario. By 2027, Desjardins will have supported projects with a direct impact on people’s lives in various areas, such as the environment, health, education, entrepreneurship, housing, diversity, culture, sports, and innovation, bringing the total to $280 million.

In 2025, the GoodSpark Fund supported numerous initiatives, such as the expansion of Maison Stéphane Fallu (in French only) to provide a new pavilion for young women, the Michel-Sarrazin Foundation to improve palliative care, and a contribution to three health organizations in Ontario, including the Ottawa Hospital Foundation. Also noteworthy is the Fund’s support for Technum Québec (in French only) and Cybereco to accelerate innovation in microelectronics and strengthen cybersecurity. The Fund also supported climate technology start-ups with Cycle Momentum, affirming the key role it plays in the economic and social development of communities.

10,000 housing units by 2028

In response to the housing crisis, Desjardins is stepping up its commitment and aims to create more than 10,000 housing units in response to the affordability crisis by 2028. This ambition marks a major development in the Desjardins’s affordable housing initiative, launched in 2022, which targeted 3,000 housing units. This initiative, supported by public and private partnerships and an innovative financing model, will provide practical, real-world solutions to thousands of families, students and individuals while promoting a more inclusive and supportive society.

As at December 31, 2025, 1,861 housing units were already occupied, and an additional 2,722 units were under construction.

Last July, the Amplifier fund was launched to provide $50 million in financial support. Managed by Desjardins Capital, the fund will accelerate the development of affordable housing with a low environmental footprint.

The Banker names Desjardins Canadian Bank of the Year

Desjardins Group was named Canadian Bank of the Year for 2025 by The Banker magazine. This prestigious award highlights Desjardins’s outstanding performance in digital innovation and sustainable finance, and is all the more significant given that it was won as a financial cooperative.

Insurance to help SMEs deal with digital risks

In an environment of fast-changing cyberthreats, where small and medium-sized enterprises (SMEs) are increasingly being targeted, Desjardins has launched CyberSuite Plus, a comprehensive insurance solution designed for SMEs that combines several essential coverages, including new protections specifically designed to combat fraud.

Over 10 million members and clients: an indication of Desjardins’s impact across the country

Desjardins now has more than 10 million members and clients, a number that reflects the reality of its business relationships and its pan-Canadian reach. This is evidence of the Group’s sustained business growth across Canada, driven by an expanding range of services and an ever greater presence among members and clients. This number now includes certain product holders, in particular those insured through group insurance or participating in group retirement savings plans, with whom Desjardins has significant interactions. This number fully reflects Desjardins’s true reach and impact across the country.

Financial highlights

Comparison of fiscal 2025 with fiscal 2024:

• Surplus earnings before member dividends of $3,811 million, up $455 million or 13.6%.
• Total net revenue of $16,308 million, up $1,648 million, or 11.2%.
  • Net interest income of $8,279 million, up $808 million, or 10.8%, mainly due to growth in the average residential mortgages and business loans outstanding.
  • Insurance service result of $2,117 million, up $30 million.
  • Net insurance finance result of $974 million, up $179 million, or 22.5%, generated mainly by favourable developments in financial markets.
  • Other income of $4,938 million, up $631 million, or 14.7%, in particular due to growth in assets under management and under administration.
• Provision for credit losses of $688 million, compared to $597 million in 2024. The 2025 provision reflects an unfavourable migration in credit quality and a higher volume in loan portfolios.
• Gross non-interest expense of $11,637 million, up $992 million, or 9.3%, compared to 2024. This increase was due in particular to higher spending on personnel, mainly attributable to wage indexation and performance-based compensation. There was also an increase in spending on fees and technology, which supported business growth and enhanced the services offered to members and clients.
• $638 million returned to members and the community,⁽¹⁾ up $81 million, or 14.5%.

Other highlights:

• Desjardins Group maintains very good capitalization, in compliance with Basel III requirements.
  • Tier 1A capital ratio⁽²⁾ of 23.7%, compared to 22.2% as at December 31, 2024.
  • Total capital ratio⁽²⁾ of 26.1%, compared to 24.2% as at December 31, 2024.
• Total assets have grown 8.3 % since December 31, 2024, to $510.2 billion as at December 31, 2025.
• On December 12, 2025, the Board of Directors approved an interest payment of $234 million to holders of F capital shares.
• Several securities issues were made during the year, including under the legislative covered bond program, the multi-currency medium-term note program, the Canadian medium-term note program and in accordance with the Desjardins Sustainable Bond Framework and the Canadian Non-Viability Contingent Capital (NVCC) Fund program.
• In October 2025, Standard & Poor’s ratings agency affirmed the ratings of the instruments issued by the Fédération des caisses Desjardins du Québec (the Federation), while maintaining the outlook as “stable.”
• In November 2025, Moody’s ratings agency affirmed the ratings of the instruments issued by the Federation, while maintaining the outlook as “stable.”

Comparison of fourth quarter 2025 with fourth quarter 2024:

• Surplus earnings before member dividends of $1,058 million, up $232 million or 28.1%.
• Total net revenue of $4,413 million, up $455 million, or 11.5%:
  • Net interest income of $2,151 million, up $189 million, or 9.6%, mainly due to growth in average residential mortgages and business loans outstanding.
  • Insurance service result of $694 million, down $94 million, due to higher claims expenses for the current fiscal year in automobile and property insurance activities in the Property and Casualty Insurance segment.
  • Net insurance finance result of $224 million, up $130 million, due to favourable developments in financial markets.
  • Other income of $1,344 million, up $230 million, or 20.6%, due to losses on disposals recorded in 2024, as well as growth in assets under management and under administration.
• Provision for credit losses of $163 million, reflecting an unfavourable migration in credit quality in the fourth quarter of 2025. The provision of $272 million in the fourth quarter of 2024 arose from an unfavourable migration in credit quality and adjustments to forward-looking information.
• Gross non-interest expense of $3,172 million, up $304 million, or 10.6%, compared to the fourth quarter of 2024. This increase was primarily on account of the increase in spending on personnel, commissions and spending on technology and fees, which supported business growth and enhanced the services offered to members and clients.
• $211 million returned to members and the community,⁽¹⁾ up $68 million, or 47.6%.

Non-GAAP financial measures and other financial measures

To measure its performance, Desjardins Group uses different Canadian generally accepted accounting principles (GAAP) (International Financial Reporting Standards (IFRS)) financial measures and various other financial measures, some of which are non-GAAP financial measures. Regulation 52-112 respecting Non-GAAP and Other Financial Measures Disclosure (Regulation 52-112) provides guidance to issuers disclosing specified financial measures, including the following measures used by Desjardins Group:

• A non-GAAP financial measure;
• Supplementary financial measures.

Non-GAAP financial measure

The non-GAAP financial measure used by Desjardins Group in this press release, and which does not have a standardized definition, is not directly comparable to similar measures used by other companies, and may not be directly comparable to any GAAP measure. It is defined as follows:

Return to members and the community

As a cooperative financial group contributing to the development of communities, Desjardins Group gives its members and clients the support they need to be financially empowered. The amounts returned to members and the community, a non-GAAP financial measure, are used to present the overall amount returned to the community and are composed of member dividends, as well as sponsorships, donations and scholarships.

More detailed information about the amounts returned to members and the community may be found in the “Financial Highlights” table on the following page.

Supplementary financial measures

In accordance with Regulation 52-112, supplementary financial measures are used to show historical or expected future financial performance, financial position or cash flows. In addition, these measures are not disclosed in the financial statements. Desjardins Group uses certain supplementary financial measures, and their composition is presented in the Glossary on pages 106 to 110 of the 2025 annual MD&A.

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