Desjardins
Desjardins is a credit union located in ON and QC. It was founded in 1900. It primarily serves Working-class Canadians.
Desjardins is Canada’s largest cooperative financial group and is widely recognized as North America’s largest financial cooperative group. Its origins date to December 6, 1900, when the Caisse populaire de Lévis was founded in Lévis, Quebec, by Alphonse Desjardins, with support from Dorimène Desjardins.
Desjardins is owned and governed by its members, who elect representatives and participate in its democratic governance. As a cooperative, it can return surplus earnings to members and reinvest in communities rather than distribute profits to outside shareholders.
Desjardins offers personal and business banking, insurance, wealth management, and investment products. It also contributes to communities through sponsorships, scholarships, donations, and local development initiatives.
With roots in Quebec and a significant presence in Ontario, Desjardins operates as a Canadian cooperative financial institution serving members, clients, businesses, and communities.
Mortgage Rates
| Lender | Term | Rate | |
|---|---|---|---|
| 4-Year Fixed | 4.39% | ||
| 5-Year Fixed | 4.49% | ||
| 5-Year Variable | 4.10% | ||
* Rates are for informational purposes only and reflect the lowest rates available. Rates may change at any time and may be applicable only to certain borrowers. Terms and conditions apply. | |||
GIC Rates
| Term | Rate |
|---|---|
| 1-Month | 1.70% |
| 3-Month | 1.90% |
| 6-Month | 2.20% |
| 9-Month | 2.30% |
| 1-Year | 2.70% |
| 2-Year | 3.00% |
| 3-Year | 3.10% |
| 4-Year | 3.15% |
| 5-Year | 3.35% |
* Rates are for informational purposes only and reflect the highest rates available. Rates may change at any time and may be applicable only to certain depositors. Terms and conditions apply. | |
| Metric | 2025 | YoY Change | 5-Year Change |
|---|---|---|---|
| Assets | $510.2B | +8.3% | +28.5% |
| Loans | $314.7B | +8.7% | +36.0% |
| Deposits | $329.5B | +9.5% | +38.2% |
| Mortgages + HELOCs | $198.9B | +10.5% | +27.9% |
| Efficiency Ratio | 71.4% | — | — |
| Members | 10,000,000 | — | — |
| Branches | 587 | — | — |
| Target Members | Working-class Canadians | — | — |
Desjardins's Financial Highlights
Source: Desjardins' Quarterly and Annual Financial Reports
Accounting change: Desjardins adopted IFRS 17 in 2023 and restated 2022 figures. Data before 2022 is reported under IFRS 4 and is not directly comparable.
Financial Highlights: Dataset
| ($ Millions) | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Interest Income | $1,126 | $1,573 | $1,417 | $1,842 | $1,831 | $1,892 | $1,470 | $1,996 | $1,715 | $2,067 | $1,985 | $2,262 |
| Net Interest Income | $1,541 | $1,666 | $1,716 | $1,696 | $1,733 | $1,861 | $1,915 | $1,962 | $1,967 | $2,024 | $2,137 | $2,151 |
| Total Revenue | $2,667 | $3,239 | $3,133 | $3,538 | $3,564 | $3,753 | $3,385 | $3,958 | $3,682 | $4,091 | $4,122 | $4,413 |
| Total Assets | $398,604 | $409,558 | $414,056 | $422,940 | $435,819 | $444,348 | $464,677 | $470,942 | $487,946 | $501,254 | $511,856 | $510,242 |
Source: Desjardins' Quarterly and Annual Financial Reports
Total Assets
Source: Desjardins' Quarterly and Annual Financial Reports
Proportional Breakdown of Non-Interest and Interest Income
Source: Desjardins' Quarterly and Annual Financial Reports
Accounting change: Desjardins adopted IFRS 17 in 2023 and restated 2022 figures. Data before 2022 is reported under IFRS 4 and is not directly comparable.
Credit Risk Data
Source: Desjardins' Quarterly and Annual Financial Reports
Provision for Credit Losses (PCL) Breakdown by Loan Category
| ($ Millions) | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |
|---|---|---|---|---|
| PCL Mortgages | $1 | $0 | $2 | $-1 |
| PCL Personal Loans | $94 | $81 | $75 | $112 |
| PCL Business-Government | $117 | $31 | $76 | $100 |
Source: Desjardins' Quarterly and Annual Financial Reports
Allowance for Credit Losses (ACL) Breakdown by Loan Category
| ($ Millions) | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |
|---|---|---|---|---|
| ACL Mortgages | $104 | $106 | $109 | $107 |
| ACL Personal Loans | $619 | $608 | $588 | $602 |
| ACL Business-Government | $909 | $933 | $788 | $890 |
Source: Desjardins' Quarterly and Annual Financial Reports
Net Write-Offs Breakdown by Loan Category
| ($ Millions) | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |
|---|---|---|---|---|
| Write-offs Mortgages | $-1 | $-2 | $-1 | $1 |
| Write-offs Personal Loans | $97 | $92 | $95 | $98 |
| Write-offs Business-Government | $6 | $7 | $-257 | $-2 |
Source: Desjardins' Quarterly and Annual Financial Reports
Gross Loans vs. Net Loans
Source: Desjardins' Quarterly and Annual Financial Reports
Credit Risk and Loans
| ($ Millions) | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Net Write-Offs | $61 | $77 | $76 | $122 | $98 | $150 | $95 | $109 | $101 | $102 | $97 | $315 |
| PCL | $105 | $66 | $127 | $231 | $133 | $87 | $105 | $272 | $210 | $203 | $112 | $163 |
| ACL | $1,136 | $1,125 | $1,169 | $1,273 | $1,317 | $1,254 | $1,257 | $1,420 | $1,403 | $1,511 | $1,530 | $1,374 |
| Total Gross Loans | $253,431 | $258,776 | $262,965 | $267,115 | $270,233 | $278,160 | $283,814 | $290,917 | $297,731 | $307,785 | $313,781 | $316,077 |
| Total Net Loans | $252,394 | $257,736 | $261,887 | $265,935 | $269,012 | $276,996 | $282,652 | $289,597 | $296,328 | $306,274 | $312,251 | $314,703 |
Source: Desjardins' Quarterly and Annual Financial Reports
Loan Portfolio Data
Source: Desjardins' Quarterly and Annual Financial Reports
Loan Portfolio Dataset
| ($ Millions) | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Mortgages (Inc HELOCs) | $162,285 | $164,285 | $165,858 | $166,451 | $171,563 | $175,276 | $179,920 | $183,965 | $191,041 | $194,596 | $198,876 | $201,408 |
| Total Personal Loans | $24,226 | $24,304 | $24,239 | $24,204 | $24,302 | $24,528 | $24,683 | $24,442 | $24,736 | $24,638 | $24,426 | N/A |
| Total Business and Gov + Acceptances | $72,261 | $74,383 | $77,018 | $79,578 | $82,295 | $84,010 | $86,314 | $89,324 | $92,008 | $94,547 | $88,775 | N/A |
Source: Desjardins' Quarterly and Annual Financial Reports
Deposits Dataset
Source: Desjardins' Quarterly and Annual Financial Reports
Deposits Dataset
Source: Desjardins' Quarterly and Annual Financial Reports
TLAC and Leverage Ratios
Source: Desjardins' Quarterly and Annual Financial Reports
TLAC and Leverage Ratios
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tier 1 Capital Ratio | 19.9% | 20.9% | 20.8% | 20.4% | 21% | 21.2% | 21.9% | 22.2% | 22.4% | 22.9% | 23.1% | 23.7% |
| Leverage Ratio | 7.7% | 7.6% | 7.5% | 7.3% | 7.4% | 7.6% | 7.6% | 7.6% | 7.6% | 7.5% | 7.5% | 7.8% |
| TLAC Leverage Ratio | 11.4% | 10.6% | 10.7% | 10.5% | 10.4% | 10.9% | 11.2% | 11.2% | 11% | 10.6% | 11.2% | 11.6% |
Source: Desjardins' Quarterly and Annual Financial Reports
Net Interest Margin
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Interest Margin (Reported) | 2.22% | 2.32% | 2.33% | 2.24% | 2.24% | 2.34% | 2.29% | 2.3% | 2.29% | 2.28% | 2.28% | 2.28% |
Source: Desjardins' Quarterly and Annual Financial Reports
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