Desjardins Group reported $3.8 billion in surplus earnings before member dividends for the 2025 financial year, up from $3.4 billion the year prior, the financial cooperative announced Tuesday.
Total net revenue was $16.3 billion in 2025, compared to $14.7 billion in 2024.
Desjardins distributed $505 million to members as dividends and $133 million in sponsorships, donations and scholarships.
The wealth management and life and health business saw $756 million in net surplus earnings in 2025, up from $633 million in 2024. This came mainly from net interest income from business growth, positive effect from updating insurance actuarial assumptions and favourable financial markets developments. It was partly offset by less favourable experience in long-term disability insurance and disposing an investment recognized in 2024.
New life and health insurance sales were $757 million in 2025, down from $807 million in 2024. Group insurance premiums were $4.5 billion, up from $4.2 billion; individual insurance premiums were $1.3 billion, up from $1.2 billion; and annuity premiums halved from $1.5 billion in 2024 to $737 million in 2025.
Desjardins’ personal and business services segment raked in $1.9 billion in net surplus earnings before member dividends, compared to $1.6 billion the year prior. This was primarily driven by net interest income increase from growth in residential mortgages and business loans, higher credit card payment volumes and more income from deposit and payment service charges.
Provision for credit losses of $680 million was up from $599 million in 2024, mainly reflecting unfavourable credit quality migration and higher loan portfolio volumes.
As of Dec. 31, 2025, Desjardins had $673 billion in assets under administration and $123 billion in assets under management, up from $601 billion and $104 billion, respectively, at the same time in 2024.
The financial cooperative had 52,500 full-time equivalent employees, up from 50,800 in 2024.
In August, Desjardins announced a deal to buy Guardian Capital Group Ltd. for $1.7 billion. The company expects the deal to close before the end of the first quarter.