{"id":1173355,"date":"2026-08-28T02:04:54","date_gmt":"2026-08-28T02:04:54","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/1173355\/"},"modified":"2026-08-28T02:04:54","modified_gmt":"2026-08-28T02:04:54","slug":"rbc-cibc-td-bank-bmo-national-bank-and-scotiabank-a-breakdown-of-the-big-banks-third-quarter-earnings","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/1173355\/","title":{"rendered":"RBC, CIBC, TD Bank, BMO, National Bank and Scotiabank: A breakdown of the big banks\u2019 third-quarter earnings"},"content":{"rendered":"<p><a style=\"display:block\" href=\"https:\/\/www.theglobeandmail.com\/resizer\/v2\/F3SBHFY4JFHL3EJKCSCIPLXBCQ.jpg?auth=97ebd59a114dfebb3a857aaa9f5dd55d04599d12b38297a1b464c062fe19a6fc&amp;width=600&amp;height=400&amp;quality=80&amp;smart=true\" aria-haspopup=\"true\" data-photo-viewer-index=\"0\" rel=\"nofollow noopener\" target=\"_blank\">Open this photo in gallery:<\/a><\/p>\n<p class=\"figcap-text\">The Bay Street Financial District is seen in Toronto.Nathan Denette\/The Canadian Press<\/p>\n<p class=\"c-article-body__text text-pr-5\">Canada\u2019s biggest banks reported their third-quarter earnings this week, covering the three months that ended July 31.<\/p>\n<p class=\"c-article-body__text text-pr-5\">Bank of Nova Scotia, Bank of Montreal, National Bank, Royal Bank of Canada, Canadian Imperial Bank of Commerce and Toronto-Dominion Bank beat analysts\u2019 expectations for the third fiscal quarter. All except BMO posted higher third-quarter profits.<\/p>\n<p class=\"c-article-body__text text-pr-5\">Canadian bank stocks have surged 24 per cent this year in the lead-up to posting third-quarter results as the lenders withstood mounting concerns over trade uncertainty and geopolitical tensions. <\/p>\n<p class=\"c-article-body__text text-pr-5\">Here\u2019s a breakdown of the big banks\u2019 third-quarter results.<\/p>\n<p>Bank of Nova Scotia (Scotiabank)<a style=\"display:block\" href=\"https:\/\/www.theglobeandmail.com\/resizer\/v2\/RUC22FL4BNAW3DDUM2KS6EEF6I.JPG?auth=5a26530371f40fce8c881fa1ae4e5106f3c2afba22d1a6ef702c34193e0be910&amp;width=600&amp;height=400&amp;quality=80&amp;smart=true\" aria-haspopup=\"true\" data-photo-viewer-index=\"1\" rel=\"nofollow noopener\" target=\"_blank\">Open this photo in gallery:<\/a><\/p>\n<p class=\"figcap-text\">Isabella Falsetti\/The Globe and Mail<\/p>\n<ul>\n<li class=\"c-article-body__li text-pr-7\"><b>Earnings Q3 2026:<\/b> $2.95-billion ($2.27 per share)<\/li>\n<li class=\"c-article-body__li text-pr-7\"><b>Earnings Q3 2025: <\/b>$2.53-billion ($1.84 per share)<\/li>\n<li class=\"c-article-body__li text-pr-7\"><b>Adjusted EPS: <\/b>$2.28 per share<\/li>\n<li class=\"c-article-body__li text-pr-7\"><b>Analysts\u2019 expectations:<\/b> $2.10 per share (adjusted)<\/li>\n<li class=\"c-article-body__li text-pr-7\"><b>Dividend: <\/b>$1.14 per share<\/li>\n<\/ul>\n<p class=\"c-article-body__text text-pr-5\">Bank of Nova Scotia <a href=\"https:\/\/www.theglobeandmail.com\/investing\/markets\/stocks\/BNS-T\/\" target=\"_self\" rel=\"nofollow noopener\">BNS-T<\/a> posted <a href=\"https:\/\/www.theglobeandmail.com\/business\/article-bmo-scotiabank-us-trade-banks-earnings\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.theglobeandmail.com\/business\/article-bmo-scotiabank-us-trade-banks-earnings\/\">higher third-quarter profit<\/a> that beat analysts\u2019 expectations on a boost from capital markets and stronger performance across its businesses.<\/p>\n<p class=\"c-article-body__text text-pr-5\">Scotiabank\u2019s net income rose 17 per cent to $2.95-billion, or $2.27 per share, in the three months that ended July 31. Adjusted to exclude certain items, the bank said it earned $2.28<b> <\/b>per share, topping the $2.10 per share analysts expected, according to data by Bloomberg.<\/p>\n<p class=\"c-article-body__text text-pr-5\">Scotiabank is working on growing its domestic business by attracting lower-cost deposits and selling more products and services to its clients. But competition for deposits has been mounting in the Canadian market as lenders vie for customer cash.<\/p>\n<p class=\"c-article-body__text text-pr-5\">In the first quarter ended Jan. 31, Scotiabank said it expects to hit its target of 14-per-cent return on equity in 2027, a year earlier than expected. In the third quarter, Scotiabank posted an adjusted return on equity of 14.2 per cent.<\/p>\n<p>Bank of Montreal (BMO)<a style=\"display:block\" href=\"https:\/\/www.theglobeandmail.com\/resizer\/v2\/6SB36DAH2JDKLAI6IZQEUITU6A.jpg?auth=f88f80b8023f490b28699bc7ba1480e178834f00e2db55af4de4859a4fcd5138&amp;width=600&amp;height=400&amp;quality=80&amp;smart=true\" aria-haspopup=\"true\" data-photo-viewer-index=\"2\" rel=\"nofollow noopener\" target=\"_blank\">Open this photo in gallery:<\/a><\/p>\n<p class=\"figcap-text\">Sean Kilpatrick\/The Canadian Press<\/p>\n<ul>\n<li class=\"c-article-body__li text-pr-7\"><b>Earnings Q3 2026:<\/b> $1.75-billion ($2.38 per share)<\/li>\n<li class=\"c-article-body__li text-pr-7\"><b>Earnings Q3 2025: <\/b>$2.33-billion ($3.14 per share)<\/li>\n<li class=\"c-article-body__li text-pr-7\"><b>Adjusted EPS: <\/b>$3.96 per share<\/li>\n<li class=\"c-article-body__li text-pr-7\"><b>Analysts\u2019 expectations:<\/b> $3.75 per share (adjusted)<\/li>\n<li class=\"c-article-body__li text-pr-7\"><b>Dividend: <\/b>$1.71 per share<\/li>\n<\/ul>\n<p class=\"c-article-body__text text-pr-5\">Bank of Montreal <a href=\"https:\/\/www.theglobeandmail.com\/investing\/markets\/stocks\/BMO-T\/\" rel=\"nofollow noopener\" target=\"_blank\">BMO-T<\/a> reported lower third-quarter profit but <a href=\"https:\/\/www.theglobeandmail.com\/business\/article-bmo-scotiabank-us-trade-banks-earnings\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.theglobeandmail.com\/business\/article-bmo-scotiabank-us-trade-banks-earnings\/\">beat analysts\u2019 estimates<\/a> on stronger-than-expected performance across its businesses as the lender seeks to boost its profitability.<\/p>\n<p class=\"c-article-body__text text-pr-5\">The lender has been streamlining its operations and rejigging its balance sheet as part of its strategy to boost its profitability, particularly in its U.S. unit.<\/p>\n<p class=\"c-article-body__text text-pr-5\">BMO\u2019s net income fell 25 per cent from the same quarter last year to $1.75-billion, or $2.38 per share, in the three months that ended July 31. The bank\u2019s reported net income was weighed down by certain items, including a charge related to the announced sale of BMO\u2019s transportation and vendor finance business.<\/p>\n<p class=\"c-article-body__text text-pr-5\">Adjusted to exclude those items, the lender said net income rose 19 per cent to $2.86-billion in the quarter. On an adjusted basis, BMO said it earned $3.96<b> <\/b>per share. That edged out the $3.75 per share analysts expected, according to data by Bloomberg.<\/p>\n<p class=\"c-article-body__text text-pr-5\">BMO also announced a plan to buy back 25-million of its common share. The bank maintained its quarterly dividend at $1.71 per share.<\/p>\n<p>National Bank of Canada<a style=\"display:block\" href=\"https:\/\/www.theglobeandmail.com\/resizer\/v2\/QT2VUOCHUZAC5IRBASONYVLVIM.jpg?auth=be3856e12f3e0f51839dd351c08e184d08563e8bd04ca12f062e8cd4bb1332fa&amp;width=600&amp;height=400&amp;quality=80&amp;smart=true\" aria-haspopup=\"true\" data-photo-viewer-index=\"3\" rel=\"nofollow noopener\" target=\"_blank\">Open this photo in gallery:<\/a><\/p>\n<ul>\n<li class=\"c-article-body__li text-pr-7\"><b>Earnings Q3 2026:<\/b> $1.31-billion ($3.25 per share)<\/li>\n<li class=\"c-article-body__li text-pr-7\"><b>Earnings Q3 2025: <\/b>$1.07-billion ($2.58 per share)<\/li>\n<li class=\"c-article-body__li text-pr-7\"><b>Adjusted EPS: <\/b>$3.39 per share<\/li>\n<li class=\"c-article-body__li text-pr-7\"><b>Analysts\u2019 expectations:<\/b> $3.21 per share (adjusted)<\/li>\n<li class=\"c-article-body__li text-pr-7\"><b>Dividend: <\/b>$1.32 per share<\/li>\n<\/ul>\n<p class=\"c-article-body__text text-pr-5\">National Bank of Canada <a href=\"https:\/\/www.theglobeandmail.com\/investing\/markets\/stocks\/NA-T\/\" rel=\"nofollow noopener\" target=\"_blank\">NA-T<\/a> posted <a href=\"https:\/\/www.theglobeandmail.com\/business\/article-national-bank-canada-earnings-profits-stocks-market\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.theglobeandmail.com\/business\/article-national-bank-canada-earnings-profits-stocks-market\/\">higher third-quarter profit<\/a> that beat analysts\u2019 expectations as the lender booked stronger performance across personal banking, capital markets and wealth management.<\/p>\n<p class=\"c-article-body__text text-pr-5\">National Bank\u2019s net income climbed 23 per cent to $1.31-billion, or $3.25 per share, in the three months that ended July 31.<\/p>\n<p class=\"c-article-body__text text-pr-5\">Adjusted to exclude certain items, including costs related to the acquisition of Canadian Western Bank and transactions with Laurentian Bank of Canada, the bank said it earned $3.39 per share, beating the $3.21 per share analysts expected, according to data by S&amp;P Capital IQ.<\/p>\n<p>Royal Bank of Canada (RBC)<a style=\"display:block\" href=\"https:\/\/www.theglobeandmail.com\/resizer\/v2\/UKPSGZ67VBEDZFBJSHO2HCABUQ.JPG?auth=aeab4c4aae9f683a71867a665d7888bcd8110475a8b83f987fa4ab3a6b981240&amp;width=600&amp;height=400&amp;quality=80&amp;smart=true\" aria-haspopup=\"true\" data-photo-viewer-index=\"4\" rel=\"nofollow noopener\" target=\"_blank\">Open this photo in gallery:<\/a><\/p>\n<p class=\"figcap-text\">Christopher Katsarov\/The Globe and Mail<\/p>\n<p class=\"c-article-body__text text-pr-5\"><b>Earnings Q3 2026:<\/b> $6-billion ($4.23 per share)<\/p>\n<p class=\"c-article-body__text text-pr-5\"><b>Earnings Q3 2025: <\/b>$5.4-billion ($3.75 per share)<\/p>\n<p class=\"c-article-body__text text-pr-5\"><b>Adjusted EPS: <\/b>$4.28 per share<\/p>\n<p class=\"c-article-body__text text-pr-5\"><b>Analysts\u2019 expectations:<\/b> $4.07 per share (adjusted)<\/p>\n<p class=\"c-article-body__text text-pr-5\"><b>Dividend: <\/b>$1.76 per share<\/p>\n<p class=\"c-article-body__text text-pr-5\">Royal Bank of Canada <a href=\"https:\/\/www.theglobeandmail.com\/investing\/markets\/stocks\/RY-T\/\" rel=\"nofollow noopener\" target=\"_blank\">RY-T<\/a> <a href=\"https:\/\/www.theglobeandmail.com\/business\/article-rbc-profits-earnings-capital-markets-commercial-banking\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.theglobeandmail.com\/business\/article-rbc-profits-earnings-capital-markets-commercial-banking\/\">reported higher third-quarter profit<\/a> that beat analysts\u2019 estimates as the lender booked stronger performance across capital markets, commercial banking and wealth management.<\/p>\n<p class=\"c-article-body__text text-pr-5\">RBC\u2019s profit rose 11 per cent to $6-billion, or $4.23 per share, in the three months that ended July 31.<\/p>\n<p class=\"c-article-body__text text-pr-5\">Adjusted to exclude certain items, including HSBC Canada transaction and integration costs, the bank said it earned $4.28 per share, topping the $4.07 per share analysts expected, according to data by S&amp;P Capital IQ.<\/p>\n<p>Canadian Imperial Bank of Commerce (CIBC)<a style=\"display:block\" href=\"https:\/\/www.theglobeandmail.com\/resizer\/v2\/YITV2KAVPZG5XJGMTRZ3AUPCN4.jpg?auth=a817553cd6308d12ac6bb72ee7856ed1368a2efeb506f11b01d4f788d99896b6&amp;width=600&amp;height=400&amp;quality=80&amp;smart=true\" aria-haspopup=\"true\" data-photo-viewer-index=\"5\" rel=\"nofollow noopener\" target=\"_blank\">Open this photo in gallery:<\/a><\/p>\n<p class=\"figcap-text\">Evan Buhler\/The Canadian Press<\/p>\n<p class=\"c-article-body__text text-pr-5\"><b>Earnings Q3 2026:<\/b> $2.41-billion ($2.47 per share)<\/p>\n<p class=\"c-article-body__text text-pr-5\"><b>Earnings Q3 2025: <\/b>$2.1-billion ($2.15 per share)<\/p>\n<p class=\"c-article-body__text text-pr-5\"><b>Adjusted EPS: <\/b>$2.73 per share<\/p>\n<p class=\"c-article-body__text text-pr-5\"><b>Analysts\u2019 expectations:<\/b> $2.50 per share (adjusted)<\/p>\n<p class=\"c-article-body__text text-pr-5\"><b>Dividend: <\/b>$1.07 per share<\/p>\n<p class=\"c-article-body__text text-pr-5\">Canadian Imperial Bank of Commerce <a href=\"https:\/\/www.theglobeandmail.com\/investing\/markets\/stocks\/CM-T\/\" rel=\"nofollow noopener\" target=\"_blank\">CM-T<\/a> picked up more business from domestic clients and kept loan losses in check to continue the sector\u2019s streak of third quarter profits that <a href=\"https:\/\/www.theglobeandmail.com\/business\/article-cibc-beats-profit-forecast-on-growth-in-domestic-banking-continuing\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.theglobeandmail.com\/business\/article-cibc-beats-profit-forecast-on-growth-in-domestic-banking-continuing\/\">beat analysts\u2019 expectations<\/a>.<\/p>\n<p class=\"c-article-body__text text-pr-5\">On Thursday, CIBC reported it earned $2.41-billion in the third quarter, or $2.47 per share, up 15 per cent from the same period in 2025.<\/p>\n<p class=\"c-article-body__text text-pr-5\">The Toronto-based bank\u2019s adjusted earnings were $2.65-billion or $2.73 per share. Analysts had forecast the bank would post adjusted earnings of $2.50-per share, according to data from the London Stock Exchange Group (LSEG).<\/p>\n<p>Toronto-Dominion Bank (TD Bank)<a style=\"display:block\" href=\"https:\/\/www.theglobeandmail.com\/resizer\/v2\/KP6GMLCIIFC7ZPQOJBZKTQR2IM.JPG?auth=69919ccf9bc553c731d5523ac9c64c2012a523599e50c939fc599a3927366caf&amp;width=600&amp;height=400&amp;quality=80&amp;smart=true\" aria-haspopup=\"true\" data-photo-viewer-index=\"6\" rel=\"nofollow noopener\" target=\"_blank\">Open this photo in gallery:<\/a><\/p>\n<p class=\"c-article-body__text text-pr-5\"><b>Earnings Q3 2026:<\/b> $4.62-billion ($2.74 per share)<\/p>\n<p class=\"c-article-body__text text-pr-5\"><b>Earnings Q3 2025: <\/b>$3.34-billion ($1.89 per share)<\/p>\n<p class=\"c-article-body__text text-pr-5\"><b>Adjusted EPS: <\/b>$2.77 per share<\/p>\n<p class=\"c-article-body__text text-pr-5\"><b>Analysts\u2019 expectations:<\/b> $2.47 per share (adjusted)<\/p>\n<p class=\"c-article-body__text text-pr-5\"><b>Dividend: <\/b>$1.12 per share<\/p>\n<p class=\"c-article-body__text text-pr-5\">Toronto-Dominion Bank <a href=\"https:\/\/www.theglobeandmail.com\/investing\/markets\/stocks\/TD-T\/\" rel=\"nofollow noopener\" title=\"https:\/\/www.theglobeandmail.com\/investing\/markets\/stocks\/TD-T\/\" target=\"_blank\">TD-T<\/a> reported <a href=\"https:\/\/www.theglobeandmail.com\/business\/article-td-bank-toronto-dominion-profit-earnings\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.theglobeandmail.com\/business\/article-td-bank-toronto-dominion-profit-earnings\/\">higher third-quarter profit<\/a> that beat analysts\u2019 estimates as the lender reigns in expenses and plans to open new retail branches in the United States, where it is fixing gaps in its anti-money laundering processes.<\/p>\n<p class=\"c-article-body__text text-pr-5\">Canada\u2019s second-largest lender posted stronger than expected results across its businesses. TD\u2019s net income rose 38 per cent to $4.62-billion, or $2.74 per share, in the three months that ended July 31.<\/p>\n<p class=\"c-article-body__text text-pr-5\">Adjusted to exclude certain items, the bank said it earned $2.77 per share, edging out the $2.47 per share analysts expected, according to data by S&amp;P Capital IQ.<\/p>\n<p class=\"c-article-body__text text-pr-5\">The bank said it intends to open 100 new branches in the U.S. by the end of 2028, pending regulatory approval.<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: The Bay Street Financial District is seen in Toronto.Nathan Denette\/The Canadian Press Canada\u2019s&hellip;\n","protected":false},"author":2,"featured_media":1173356,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[3090],"tags":[9884,45087,9885,8047,51,1700,16,15,9886],"class_list":["post-1173355","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-appwebview","tag-aud-growth","tag-aud-headline","tag-aud-url","tag-business","tag-economy","tag-uk","tag-united-kingdom","tag-yesapplenews"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/117170688838708564","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/1173355","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=1173355"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/1173355\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/1173356"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=1173355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=1173355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=1173355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}