Big Canadian Banks Q4 Earnings: Market Impact for Investors

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Scotiabank reports $2.21B Q4 profit, up from $1.69B a year ago

Scotiabank posted net income of $2.21 billion for the quarter ended Oct. 31, an increase from $1.69 billion in the same period last year. The bank attributed the improvement to stronger performance in wealth management and capital markets. Earnings amounted to $1.65 per diluted share, up from $1.22 per diluted share a year earlier.

Revenue rose to $9.80 billion, compared with $8.53 billion a year ago. The bank’s provision for credit losses was $1.11 billion for the quarter, slightly higher than the prior year’s $1.03 billion.

On an adjusted basis, Scotiabank reported $1.93 per diluted share, up from $1.57 a year earlier and above analyst expectations. CEO Scott Thomson said 2025 was a positive year overall, citing a stronger balance sheet, improved loan-to-deposit ratio and higher return on equity. All major business lines reported year-over-year earnings growth, with notable strength in global wealth management and global banking and markets.

Scotiabank’s global wealth management recorded $447 million in net income attributable to equity holders, up from $380 million, while global banking and markets earned $519 million, up from $347 million a year ago. Canadian banking produced $941 million, slightly higher than the prior year’s $934 million, and international banking delivered $634 million, up from $600 million.

National Bank posts $1.06B Q4 profit and raises its dividend

National Bank reported a fourth-quarter profit of $1.06 billion and announced a quarterly dividend increase to $1.24 per share. The bank said the profit translated to $2.57 per diluted share. Revenue climbed to $3.70 billion for the quarter ending Oct. 31.

Provisions for credit losses rose to $244 million from $162 million a year earlier. On an adjusted basis, the bank earned $2.82 per diluted share, ahead of last year’s adjusted $2.58 and slightly above analyst expectations. CEO Laurent Ferreira highlighted the bank’s expanded national presence and diversified business mix as strengths that position the company for continued growth despite a complex macroeconomic backdrop.

National Bank’s personal and commercial banking generated $319 million, modestly below last year’s $327 million due to acquisition-related costs. Wealth management produced $258 million, up from $219 million, while capital markets earned $432 million, compared with $306 million a year earlier. U.S. specialty finance and international operations also improved to $174 million from $157 million.

RBC posts record Q4 profit; CEO warns of uneven recovery

Royal Bank of Canada delivered record fourth-quarter results, reporting $5.43 billion in profit as capital markets, wealth management and personal and commercial banking posted gains. RBC raised its quarterly dividend to $1.64 per share and lifted its return-on-equity target to 17%.

CEO Dave McKay expressed cautious optimism about Canada’s outlook but warned that the recovery is uneven, with a K-shaped pattern that benefits higher-income households while lower-income Canadians face affordability pressures. The bank increased provisions for potential credit losses to $1.01 billion, reflecting those risks.

Adjusted earnings were $3.85 per diluted share, ahead of analyst expectations. Wealth management income rose to $1.28 billion, capital markets to $1.43 billion, personal banking to $1.89 billion, and commercial banking to $810 million. Insurance results declined to $98 million from $162 million a year ago.

CIBC reports higher Q4 profit, increases dividend and names executives

CIBC reported net income of $2.18 billion for the quarter and raised its quarterly dividend to $1.07 per share. Earnings per diluted share were $2.20, versus $1.90 a year earlier. Revenue rose to $7.58 billion, while provisions for credit losses increased to $605 million.

Adjusted earnings were $2.21 per diluted share, beating analyst expectations. The bank said growth was broad-based: Canadian personal and business banking earned $796 million, Canadian commercial banking and wealth management $603 million, U.S. commercial banking and wealth $275 million, and capital markets $548 million.

CIBC also announced senior leadership changes effective Jan. 1, including planned transitions and new appointments in technology, human resources and enterprise functions.

BMO posts $2.3B Q4 profit, raises dividend

BMO reported a fourth-quarter profit of $2.30 billion and increased its quarterly dividend to $1.67 per share. Adjusted earnings per diluted share were $3.28, well ahead of last year’s adjusted results. Revenue rose to $9.34 billion while provisions for credit losses fell to $755 million.

BMO highlighted strong gains in U.S. banking and capital markets. Canadian personal and commercial banking was steady at $752 million, U.S. banking improved to $807 million, wealth management rose to $383 million and capital markets earned $521 million. The bank also added Tammy Brown to its board of directors.

TD reports $3.28B Q4 profit, raises dividend despite one-time charges

TD Bank Group reported a quarterly profit of $3.28 billion, impacted by one-time restructuring charges, and raised its dividend to $1.08 per share. On an adjusted basis, the bank earned $2.18 per diluted share, above expectations. Revenue was $15.49 billion while provisions for credit losses declined to $982 million.

TD said strong fee and trading income helped offset charges. Canadian personal and commercial banking produced $1.87 billion; U.S. retail banking earned $719 million. Wealth management increased significantly to $699 million and wholesale banking rose to $494 million.

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