Desjardins Movement Reports $1.1 Billion Financial Surplus
Desjardins Movement recently reported a remarkable financial surplus of $1.1 billion for the third quarter ending September 30. This figure represents a significant increase of $358 million, or 47%, compared to the surplus of $757 million recorded in the same quarter last year.
Factors Behind the Financial Surplus
The surge in surplus can be attributed to two main factors. Firstly, there was a notable recovery in net income from damage insurance activities. The absence of catastrophic events in the third quarter of 2025 stood in stark contrast to the previous year, which faced severe rainfall in Quebec and hail in Alberta.
Secondly, Desjardins reported positive growth in its banking and financial services aimed at individuals and businesses. The increase in net interest income linked to business growth was a key driver in this area.
Quarterly Revenue Growth
For the third quarter, total revenues for the Desjardins Movement reached $4.12 billion. This marks an increase of $737 million, or 21.7%, from the same quarter last year.
Member Rebates and Financial Health
Despite the strong financial performance, Desjardins’ management has decided to maintain member client rebates at $113 million for the second consecutive quarter. However, this amount is a slight increase of $3 million, or 2.7%, compared to the last year’s third quarter.
Leadership Insights
Denis Dubois, who assumed the role of President and CEO of Desjardins Movement on September 2, emphasized the importance of these results. He noted that they highlight the cooperative model’s value and performance within Quebec’s economy.
According to Dubois, “These results allow us to invest where it matters, in services for our members and clients.” He also expressed confidence that the organization’s financial stability can help members navigate turbulent economic times.
Cumulative Results for 2025
In the first three quarters of 2025, Desjardins’ cumulative surplus stands at $2.75 billion, reflecting an 8.8% year-on-year increase. Total cumulative revenues reached $11.89 billion, which is an 11% increase from the previous year.
The total cumulative member rebates for the first three quarters of 2025 amount to $339 million, up from $330 million during the comparable period last year.
