Canada’s Big Six banks all topped analyst expectations in the third quarter. The strength was broad-based, with most of the banks pointing to solid results across their core businesses. Capital markets was a common bright spot, helping drive the beats at Royal Bank of Canada, Bank of Nova Scotia and National Bank. The results came amid ongoing trade uncertainty and geopolitical tension. 

Royal Bank of Canada 

RBC beat expectations on the strength of its capital markets, commercial banking and wealth management businesses. Profit rose 11% to $6 billion, or $4.23 per share. Stripping out items such as HSBC Canada transaction and integration costs, adjusted earnings came to $4.28 per share, ahead of what analysts had looked for. 

Toronto-Dominion Bank 

TD had a strong quarter, with results across the business coming in better than expected as the bank keeps a lid on costs and works to fix the gaps in the anti-money-laundering processes in its U.S. arm. Profit climbed 38% to $4.62 billion, and adjusted earnings topped what analysts had forecast. The bank also plans to open 100 new branches in the United States by the end of 2028, pending regulatory approval. 

Bank of Montreal 

BMO beat analyst estimates on stronger-than-expected performance across its businesses, even though profit came in below where it stood a year earlier. Net income fell 25% from the same quarter last year to $1.75 billion, weighed down by a charge tied to the announced sale of its transportation and vendor finance business. Excluding those items, adjusted profit rose 19% and, at $3.96 per share, came in ahead of the $3.75 analysts had expected. The bank has been streamlining its operations and reshaping its balance sheet to improve profitability, particularly in its U.S. unit. It also announced plans to buy back 25 million of its common shares. 

Bank of Nova Scotia 

Scotiabank came in ahead of expectations, helped by capital markets and stronger performance across the rest of the business. Profit rose 17% to $2.95 billion, with adjusted earnings landing above what analysts had forecast. The bank is working to expand its domestic business by attracting lower-cost deposits and deepening its relationships with existing clients, though competition for deposits has intensified as lenders vie for customer cash. In the first quarter, Scotiabank said it expected to hit its 14% return on equity target in 2027, a year earlier than previously expected. In the third quarter, Scotiabank posted an adjusted return on equity of 14.2%. 

Canadian Imperial Bank of Commerce 

CIBC kept the sector’s streak of third-quarter beats going, winning more business from domestic clients while keeping loan losses in check. Profit rose 15% from a year earlier to $2.41 billion, and adjusted earnings came in ahead of forecasts.

National Bank of Canada 

National Bank closed out the group with higher profit and a beat, carried by stronger results in personal banking, capital markets and wealth management. Profit rose 23% to $1.31 billion. Excluding items such as costs tied to the acquisition of Canadian Western Bank and transactions with Laurentian Bank of Canada, adjusted earnings came to $3.39 per share, again ahead of expectations. 

 

Source: 

https://www.theglobeandmail.com/business/article-canada-banks-earnings-third-quarter-results-2026/ (August 27, 2026) 

 

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Published August 27, 2026. 

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