2020 Desjardins Group Annual Report

Message from the president and CEO

Firmly focused on the future

Desjardins is the leading cooperative financial institution in North America. We're building a bright future for generations to come through our dedication, solidarity and cooperation.

In 2020, we celebrated our 120th anniversary—the first Desjardins caisse was founded on December 6, 1900. We've faced a lot of challenges over the past 120 years, but thanks to our cooperative model built on helping people and communities, we've grown and learned from these experiences. 2020 was no exception. But through it all, we worked together, helped one another and supported each other.

When COVID 19 hit, we rolled out relief measures like payment deferrals, reduced interest rates on some credit cards and emergency loans to help members and clients affected by the pandemic.

We supported communities with initiatives like the GoodSpark Fund, which we launched in 2016 to invest $250 million in communities in Quebec and Ontario by 2024. Many businesses also received assistance from the Momentum Fund to help them grow.

The Desjardins Foundation, which celebrated 50 years in 2020, got creative to carry out its mission in this most unusual year. In total, the Foundation awarded over $4 million in 2020 to help 322,040 young people across the country succeed in school. We're so proud of this achievement, and we'll continue to be there for our young people by motivating them and believing in them. After all, they're our future!

We're also still working hard to do what's best for our members and clients by accelerating the digital transformation and making some major acquisitions to expand our services.

At Desjardins, we're more committed than ever to climate action and a just energy transition. We invest in renewable energy and offer 17 SocieTerra funds and portfolios that are free of oil production and pipeline holdings so our members and clients can do their part.

To wrap up, I want to recognize all the hard work of our directors and employees. Throughout this challenging year, they've shown just how strong and resilient we've become over the past 120 years. Everyone at Desjardins is firmly committed to enriching the lives of our 7.5 million members and clients and their communities.

- Guy Cormier, President and CEO of Desjardins Group

Speech by Guy Cormier, President and CEO of Desjardins Group

Saturday, March 27, 2021, at approximately 11:40 AM
Guy Cormier will speak about Desjardins Group's achievements in 2020 and his plans for the economic recovery.

Watch the speech

Social and cooperative responsibility

  • $445 million redistributed to members and the community
  • GoodSpark Fund $250 million for community development from 2016 through 2024
  • Founding signatory of the Canadian Investor Statement on Diversity & Inclusion
  • Desjardins SocieTerra Funds and Portfolios now oil production- and pipeline-free

See the Social and Cooperative Responsibility Report

Financial results

  • Assets of $362 billion as at December 31, 2020
  • Surplus earnings of $2,419 million
  • Operating income of $18,399 million a 3% growth
  • Tier 1A capital ratio of21.9%

Our impact in 2020

Learn about our key projects and greatest achievements in 2020 and how they impacted our members, our clients and the communities we serve.


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