Desjardins announces its results for the third quarter of 2026
Lévis, November 12, 2026 – In addition to solid financial performance, the results for the third quarter demonstrate Desjardins Group’s ability to take action in communities. Sustained by income growth and strong financial ratios, Desjardins has the resources required to give members and clients the support they need to be financially empowered, support communities, and forge ahead with its long-term development. For the third quarter of 2026, the provision for member dividends was increased by $151 million, compared to $113 million for the corresponding period of 2025, an increase of 33.6%. Amounts returned in the form of sponsorships, donations and scholarships totalled $29 million, of which $15 million came from the caisses' Community Development Fund.
Desjardins Group recorded surplus earnings before member dividends of $1,117 million, an amount comparable to the third quarter of 2025. Total net revenue rose by 7.5%, due in particular to higher net interest income in the Personal and Business Services segment. The Wealth Management and Life and Health Insurance segment also recorded higher income, owing to growth in assets under management and under administration, due in particular to the acquisition of Guardian Capital Group Limited (Guardian). As for the Property and Casualty Insurance segment, higher income from automobile and property insurance was offset by an increased cost of claims, attributable to flooding in Ontario, as well as less favourable developments in the markets. In addition, the provision for credit losses was higher than last year, due in particular to the unfavourable effect of the migration in credit quality.
"Our third-quarter results remain solid, despite a challenging economy," said Denis Dubois, President and CEO of Desjardins Group. "They enable us to keep growing and help members and clients achieve their goals. In particular, we continued to provide strong support to the nearly 26,000 business members most affected by the latest wave of tariffs and counter-tariffs, helping them address the challenges they face and diversify their markets. We are also making progress on our commitment to help create more than 10,000 affordable and deferred-affordability homes in Quebec by 2028. As at September 30, 7,451 units were already committed, of which 3,052 were occupied. And our performance also enables us to give back more to our members, as evidenced by the higher provision for member dividends. This is the true strength of our cooperative model."
For the first nine months of 2026, Desjardins Group recorded surplus earnings before member dividends of $3,290 million, up $537 million from the same period in 2025. Total net revenue grew 10.6%, due in particular to higher net interest income in the Personal and Business Services segment. The Wealth Management and Life and Health Insurance segment posted higher other income, attributable to growth in assets under management and under administration, stemming in particular from the acquisition of Guardian. Revenue growth in the Property and Casualty Insurance segment was primarily due to automobile and property insurance. These results were offset in part by less favourable developments in the markets and a higher provision for credit losses, primarily due to a deteriorating economic outlook and the unfavourable effect of the migration in credit quality.
In addition, on October 29, 2026, Desjardins announced that it had entered into a definitive agreement to acquire all of the issued and outstanding shares of Bennington Financial Corp. ("Bennington"), a wholly owned subsidiary of Equitable Bank, held by EQB Inc. Bennington is a Canadian commercial equipment leasing and financing company with approximately $1.1 billion in assets. This acquisition will enable Desjardins to expand the range of financing solutions it offers to Business members and clients. The transaction is subject to regulatory approvals and other customary closing conditions, and is expected to close in the first quarter of 2027.
The quarter was also marked by several initiatives that demonstrate Desjardins's commitment to its socioeconomic priorities, including:
Desjardins Insurance Driving Conditions Survey
During the quarter, Desjardins Insurance continued to raise awareness of road safety. In particular, a national survey highlighted the growing challenges faced by motorists in an environment of increasingly unpredictable weather and ever more complex traffic conditions. This helped fuel reflection on how driving behaviour should adapt.
2026 Cooperathon: a decade of innovation
In keeping with its commitment to innovation and entrepreneurship, Desjardins marked the 10th anniversary of Cooperathon, an initiative which, over the years, has helped thousands of entrepreneurs develop solutions that address social, environmental and economic challenges.
Desjardins Foundation's "Un pas vers toi" initiative
Desjardins Foundation has sustained its commitment to educational success through the impact of the Desjardins Foundation Prizes, in particular the prize given to the Un pas vers toi initiative, which helps young people stay in school and reach their full potential.
Donation to the Centre de pédiatrie sociale de Lévis
As part of its commitment to communities, Desjardins announced a contribution (in French only) to the Centre de pédiatrie sociale de Lévis in support of its services for vulnerable children and families as well as to help develop the Centre's activities over the coming years.
Distinction awarded for capital-protected products
For a fourth consecutive year, Desjardins was named Best House, Capital Protection for the Americas by Structured Retail Products, underscoring the quality of its offering and its leadership.