Canadian Banks 2025 Year-End Earnings Breakdown
Canada’s major banks have released their earnings for the fiscal year-end, ending on October 31, 2025. This year, six notable lenders reported significant financial results, with analysts expecting overall earnings growth despite economic uncertainties.
Key Earnings Highlights of Canadian Banks for 2025
The earnings reports from the top banks illustrate varying degrees of profitability and strategic growth amidst challenges in the economic landscape.
1. Bank of Nova Scotia (Scotiabank)
- Earnings Q4 2025: $2.2 billion ($1.65 per share)
- Year-over-Year Comparison: Up from $1.69 billion ($1.22 per share) in Q4 2024
- Adjusted EPS: $1.93 per share (beat analysts’ expectations of $1.84)
- Dividend: $1.10 per share
- Provisions for Credit Losses: $1.1 billion
Scotiabank attributed its earnings boost to increased activity in capital markets and wealth management, even after accounting for restructuring charges.
2. Royal Bank of Canada (RBC)
- Earnings Q4 2025: $5.4 billion ($3.76 per share)
- Year-over-Year Comparison: Increased from $4.2 billion ($2.91 per share) in Q4 2024
- Adjusted EPS: $3.85 per share (surpassed expectations of $3.55)
- Dividend: Increased to $1.64 per share
- Provisions for Credit Losses: $1 billion
RBC enjoyed a significant profit increase, credited to enhanced activities in capital markets and wealth management.
3. National Bank of Canada
- Earnings Q4 2025: $1.1 billion ($2.57 per share)
- Year-over-Year Comparison: Rose from $955 million ($2.66 per share) in Q4 2024
- Adjusted EPS: $2.82 per share (exceeded predictions of $2.62)
- Dividend: $1.24 per share
- Provisions for Credit Losses: $244 million
The National Bank’s strong performance was driven by capital markets activity, alongside accounting for acquisition costs linked to the Canadian Western Bank.
4. Toronto-Dominion Bank (TD Bank)
- Earnings Q4 2025: $3.3 billion ($1.82 per share)
- Year-over-Year Comparison: Down from $3.6 billion ($1.97 per share) in Q4 2024
- Adjusted EPS: $2.18 per share (outperformed estimates of $2.01)
- Dividend: Increased to $1.08 per share
- Provisions for Credit Losses: Not disclosed
TD’s decline in profit was tempered by robust capital market activities and operational adjustments in their U.S. sector.
5. Bank of Montreal (BMO)
- Earnings Q4 2025: $2.3 billion ($2.97 per share)
- Year-over-Year Comparison: Unchanged from $2.3 billion ($2.94 per share) in Q4 2024
- Adjusted EPS: $3.28 per share (exceeded consensus of $3.03)
- Dividend: Increased to $1.67 per share
- Provisions for Credit Losses: $755 million
BMO maintained consistent earnings, benefiting from lower loan-loss provisions and increased solid results in capital markets.
6. Canadian Imperial Bank of Commerce (CIBC)
- Earnings Q4 2025: $2.2 billion ($2.20 per share)
- Year-over-Year Comparison: Increased from $1.8 billion ($1.90 per share) in Q4 2024
- Adjusted EPS: $2.21 per share (above expectations of $2.08)
- Dividend: Raised to $1.07 per share
- Provisions for Credit Losses: $605 million
CIBC reported increased profits, largely attributed to stronger demand across capital markets and U.S. sectors.
Overall Insights
The earnings breakdown for Canadian banks offers a glimpse into their resilience against economic uncertainty. With a diversified approach, many banks have successfully navigated challenges, focusing on capital markets and wealth management to bolster profits. These results set a positive tone for future operations and investor confidence.
