Desjardins posts $900M in Q2 net earnings

Desjardins Group reported net earnings before member dividends of $900 million in the second quarter, $18 million lower compared to the same quarter last year, the financial co-operative said Wednesday.

Net revenue for the quarter was $4.1 billion, up 9% compared to the second quarter of 2024.

The wealth management and life and health insurance segment posted $226 million in net earnings, down $20 million compared to the same period last year. This was mainly driven by disposing of interest in Fiera Holdings and Fiera Capital and increased expenses and investments in current projects.

As of June 30, 2025, Desjardins had $112 billion in assets under management (AUM) and $630 billion in assets under administration (AUA). At the same time last year, it had $88 billion in AUM and $558 billion in AUA.

Net interest income of $2 billion was up 8.8% from growth in residential mortgages and business loans. Insurance services net income of $593 million was down 4.4% from increased claims in the property and casualty segment. Net insurance finance income of $312 million was up 31.6% from favourable movements in financial markets.

Jonathan Got

Jonathan Got is a reporter with Advisor.ca and its sister publication, Investment Executive. Reach him at jonathan@newcom.ca.