Desjardins Group Annual Report

2023 Desjardins Group Annual Report

Download the Annual report (PDF, 8.83 MB)

Message from Guy Cormier, president and CEO

Always working for our members and clients

In 2023, we put enormous effort into providing caring help and support to our members and clients. We dug deep and were more proactive than ever before, offering them tailor-made solutions to meet their needs and stand together, side by side, in the face of a difficult economy.

Our vast cooperative financial group also reaffirmed our leadership through major projects such as our flagship GoodSpark Fund, as well as our GoodSpark Grants program and the Momentum Fund.

And the strengths of our cooperative model, combined with our excellent business performance, have enabled us to be a frontline leader for change. One good example is our commitment to making 1,750 affordable housing units available by the end of 2025.

The 24th Congress of the Federation was the occasion for major updates in our mission statement and top-level governance for Desjardins.

Youth continued to hold an important place in our actions, as evidenced by our support of thousands of initiatives and partnerships under our Together For Our Youth program. On top of that, the Desjardins Foundation's activities supported 471,688 young people across Canada.

In terms of sustainable development, we supported the initiative to urge businesses to adopt the International Sustainability Standards Board's ESG reporting standards.

We also enhanced how we're supporting business members and clients in the energy sector and validated our carbon reduction targets with the Science Based Targets initiative.

Finally, I want to salute the devotion of Desjardins Group, subsidiary and caisse board members as well as the commitment our employees, managers and leaders have shown all across our organization.

Speech by Guy Cormier

Learn all about our biggest accomplishments from 2023 during the speech by our president and CEO.

Watch the speech

Social and cooperative responsibility

  • $538 million redistributed to members and the community
  • GoodSpark Fund $250 million for community development from 2016 through 2024
  • Climate ambition Zero carbon emission by 2040
  • RI leader in Canada More than 70 responsible investment solutions

See the Social and Cooperative Responsibility Report

Financial results

  • Assets of $422.9 billion as at December 31, 2023
  • Surplus earnings of $2,259 million
  • Total net income of $12,577 million a 21.6% increase
  • Tier 1A capital ratio of20.4%

Providing guidance to our cooperative

2023 was filled with big achievements. Here's the team that provided direction and inspiration to our 56,165 employees throughout the past year.

Management Committee

Left to right: Denis Dubois, Jean-Yves Bourgeois, Antoine Avril, Johanne Duhaime, Isabelle Garon, Guy Cormier, Marie-Huguette Cormier, Nathalie Larue, Alain Leprohon, Valérie Lavoie, Réal Bellemare et Di-Thai Hua.

Board of Directors

Left to right: Luc Bachand, Paula Parhon, Jean-François Laporte, Denis Latulippe, Lisa Baillargeon, Serge Rousseau, Geneviève Côté, Elaine Lajeunesse, Michel Magnan, Guy Cormier, Johanne Charbonneau, Louis Babineau, Francine Côté, Jordan Baril-Furino, Patricia-Ann Sarrazin-Sullivan, André Grenier, Nadine Groulx, Dominique Jodoin et Maryse Lapierre.

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  1. For more information on non generally accepted accounting principles (GAAP) financial measures and supplemental financial measures, see “Non-GAAP financial measures and other financial measures” section of Desjardins Group's 2023 annual MD&A which is available on the SEDAR website at (under the Fédération des caisses Desjardins du Québec profile). Non-GAAP financial measures used by Desjardins Group, and which do not have a standardized definition, are not directly comparable to similar measures used by other companies, and may not be directly comparable to any GAAP measures.
  2. In accordance with the guideline on Capital Adequacy Guideline - Financial services cooperatives issued by the AMF.