Desjardins reports results for the third quarter of 2025 and announces a provision for member dividends of $113 million
Lévis, November 12, 2025 – The results announced today by Desjardins Group give it all the leverage it needs to continue its mission of giving members and clients the support they need and driving community development. For the third quarter of 2025, the provision for member dividends totalled $113 million, compared to $110 million for the comparable period of 2024. Amounts returned in the form of sponsorships, donations and scholarships totalled $28 million, of which $14 million came from the caisses' Community Development Fund.
All the business segments contributed to the performance of Desjardins Group, which recorded surplus earnings before member dividends of $1,115 million for the third quarter ended September 30, 2025, compared to $757 million for the same period of 2024. Of particular note is the increase in net income from property and casualty insurance operations, since there were no catastrophes in the third quarter of 2025, while the corresponding period was affected by torrential rains in Quebec and hail in Alberta. There was also an increase in surplus earnings from the Personal and Commercial Services segment, owing to an increase in net interest income related to business growth. To support this growth, Desjardins Group strengthened its presence in financial markets, in particular through several issues of securities, including one under its Sustainable Bond Framework, reaffirming its leadership in responsible financing. Lastly, it should be noted that the increase in non-interest expense was due to initiatives to support growth in operations and enhance the service offering to members and clients.
"The results we are announcing today allow us to invest where it matters, meaning in services to our members and clients and our various programs that support their ambitions," said Denis Dubois, President and CEO. "I am very proud of our performance. It reflects our daily work and our determination to become ever simpler, more accessible and more personalized for the people who rely on us. And our financial strength allows us to confidently support our members and help them navigate through a turbulent economic period. Once again, these results demonstrate the value, relevance and performance of the cooperative model."
For the first nine months of 2025, Desjardins Group recorded surplus earnings before dividends of $2,753 million, up $223 million from the same period of 2024. All the business segments contributed to this performance. This increase was due in particular to the results of the Personal and Business Services segment, which benefited from higher net interest income, related primarily to business growth and higher other income, partly offset by an increase in the provision for credit losses. There was also growth in insurance revenue, mainly as a result of premium growth in automobile and property insurance in the Property and Casualty Insurance segment. Lastly, an increase in non-interest expense served to support business growth and enhance the services offered to members and clients.
Desjardins enters into definitive agreement for the acquisition of Guardian Capital Group Limited, expanding its reach across Canada and internationally
On August 28, Desjardins Group announced that it had signed a definitive agreement to acquire Guardian Capital Group Limited, a publicly traded global investment management company that serves institutional, retail, and private clients. This transaction, valued at $1.7 billion, marks a significant milestone for Desjardins, and places it among the leaders in asset management. This strategic acquisition reflects Desjardins' long-term vision and its commitment to delivering tangible benefits to its members and clients, while accelerating its growth and reach in Canada and internationally. The transaction is expected to close in the first quarter of 2026, subject to the required regulatory approvals and once the other usual closing conditions have been met.
Innovative model to facilitate access to affordable housing
Desjardins Group continues to take its place as a key player in the delivery of affordable housing. Through an innovative one-stop shop model, Desjardins has simplified procedures, centralized financing, and accelerated project completion with community developers. In partnership with the Quebec government, Desjardins has committed to supporting the building of more than 3,000 affordable housing units by 2028. Other partners have also decided to place their trust in Desjardins, including La Société de développement Angus and Mission Unitaînés (in French only). For greater impact, Desjardins launched the Amplifier fund to provide $50 million in financial support in collaboration with six foundations and the Société d'habitation du Québec. Desjardins aims to do even more in Quebec and elsewhere in Canada through innovative financing packages. As of September 30, 2025, 4,931 housing units had been authorized in 14 regions of Quebec, including 2,553 units under agreements with the Société d’habitation du Québec, 1,700 for seniors alongside Mission Unitaînés, and 678 with the Société de développement Angus.
The Desjardins Foundation Prizes celebrate 10 years of supporting youth
Since their creation in 2015, the Desjardins Foundation Prizes have supported nearly 4,000 promising projects for young people across Quebec and Canada. In ten years, close to $10 million has been invested in initiatives to encourage young people to stay in school, stimulate youth entrepreneurship and foster commitment to communities. By providing concrete support to schools and organizations that work with young people, these prizes help strengthen the socioeconomic development of communities and build a more inclusive and sustainable future.