Press releases

Desjardins Group posts excellent 2024 results for the benefit of members and clients

February 25, 2025

**AN ACTIVE AND INVOLVED GROUP.** Desjardins Securities has supported the Canadiens Children's Foundation for over 20 years, helping to build BLEU BLANC BOUGE refrigerated multi-sport outdoor rinks. Photograph taken at the inauguration of the 15th skating rink in the City of Québec last January.

Lévis, February 25, 2025 – For the fiscal year ended December 31, 2024, Desjardins Group, North America's largest financial cooperative group, recorded surplus earnings before member dividends of $3,356 million, up $1,097 million from fiscal 2023. This increase was due, on one hand, to solid results in the Personal and Business Services segment, which benefited from growth in net interest income, mainly due to business growth, and in other income. On the other hand, a significant increase was recorded in the insurance service result in the Property and Casualty Insurance segment. The Wealth Management and Life and Health Insurance segment also performed well in 2024. We should also note that the increase in non-interest expense was limited through rigorous expenditure management.

For fiscal 2024, the provision for member dividends stood at $437 million, up $25 million from fiscal 2023. Sponsorships, donations and scholarships amounted to $120 million, of which $65 million came from caisses' Community Development Fund. Furthermore, on December 12, 2024, the Board of Directors approved an interest payment of $266 million to holders of F capital shares.

For the fourth quarter ended December 31, 2024, Desjardins Group recorded surplus earnings before member dividends totalled $826 million, up $76 million from the corresponding period in 2023. The Personal and Business Services segment reported an increase in surplus earnings due to higher net interest income, in particular as a result of business growth. In addition, the insurance service result rose, mainly in automobile and property insurance for the Property and Casualty Insurance segment. This increase was mitigated by a lower net insurance finance result due to a gain on disposal of buildings in the fourth quarter of 2023. It should also be noted that the increase in non-interest expense was limited as a result of rigorous expenditure management

"Thanks to business growth and rigorous expenditure management, we are reporting excellent results for the benefit of our members, while continuing to invest in our communities," said Guy Cormier, President and Chief Executive Officer of Desjardins Group. "I am proud of the performance of all our business segments, and of our ability to meet the needs of our members and clients. The possibility of tariffs being imposed by the United States administration is creating economic uncertainty for our members and clients, especially those in the Business Services segment. This is not the first time we have faced a situation like this, and we will continue to support our members and clients, whatever the context. Desjardins is very well positioned, and remains a solid financial institution to confront this situation."

See our full financial results (PDF, 1.30 MB)

Committed to communities

Desjardins is contributing to regional development and the economy through the GoodSpark Fund, which stimulates social and economic activity in communities. Since 2017, 912 projects have been supported, for a total commitment of $210 million. In 2024, Desjardins contributed to the construction of the Complexe aquatique de Laval (in French only) and supported the Maison Marie-Marguerite (in French only), to transform a building to 20 housing units for women who are victims of violence.

Through a number of initiatives, Desjardins is helping promote better access to housing, an issue that is affecting the entire population at a time when housing costs are taking up an ever-growing share of budgets. In partnership with the Québec government, Desjardins has committed to supporting the construction of more than 1,750 affordable housing units by the end of 2025. As at December 31, 2024, 7 projects totalling 1,182 units were in operation, with another 12 projects totalling 780 units under construction. Desjardins has also been chosen by Société de développement Angus as a financial partner (in French only) to build 1,001 new affordable housing units.

In December 2024, Desjardins announced the sale of some land in the Cité de la coopération, in Lévis, to enable the construction of a n ew elementary school for 300 students to be named Dorimène-Desjardins. The school's name was chosen by the Centre de services scolaires des Navigateurs to honour the memory of one of the co-founders of the Desjardins caisses and highlight the Group's contribution to the community.

Desjardins also remains committed to a more sustainable and inclusive economy, through its initiatives to accelerate the energy transition and its offer for responsible finance products and service.

Doing what’s best for members and clients

Desjardins provides solutions to help people take better control of their finances by actively supporting financial literacy initiatives. Desjardins also offers solutions to meet the varied needs of its members and clients and to support their financial independence.

Committed to financial education

Desjardins took advantage of Financial Literacy Month to offer new resources and promote its flagship educational programs in order to help Canadians acquire knowledge that they can easily apply:
- Mobile app users now get new personalized financial insight based on their spending habits.
- The School Caisse can now be accessed on a mobile app where elementary school-aged children can easily check their balance and learn how money works through fun videos and games.
- The Personal Finance: I'm in Charge program for young people aged 15 to 25 has introduced short-form educational videos to complement its tried-and-true workshops.
- Unforeseen: The decision-making game now has new scenarios to keep players engaged in learning about the world of finance.
More than ever, Desjardins is committed to supporting the educational success of young people. The concerted efforts of Desjardins Foundation, numerous caisses and certain Desjardins supplier partners have made it possible to award over 4 ,000 scholarships in the past year. This support is essential: of the 32,000 applications received by the Fondation, 49% of the students said they were having difficulty making ends meet. Some are even obliged to reduce their course load to work more, or take a break from their studies.
To continue helping people better understand the economic environment, Jimmy Jean, Vice-President and Chief Economist of Desjardins Group, and Emna Braham, President and CEO of the Institut du Québec, presented the last economic Web conference (in French only) of the year on December 11. Topics included the arrival of the new United States administration and its effect on interest rates and the Canadian dollar.

High-performance products for members and clients

In November 2024, Desjardins Investments Inc., the manager of Desjardins Funds, launched five new mutual funds. The funds provide diversified investment solutions tailored to the financial needs of members and clients.
Desjardins Group received four trophies at the 2024 LSEG Lipper Fund Awards annual ceremony. Desjardins stood out for the third year in a row for the Desjardins RI Emerging Markets MultiFactor – Net-Zero Emissions Pathway Exchange Traded Fund (ETF), winning the trophy for the best ETF in the Emerging Markets Equity ETF category in Canada for the three-year period. In addition, this ETF won the 2024 LSEG Lipper Fund Awards certificate in the same category for the five-year period. The portfolio manager of the award-winning ETF is Desjardins Global Asset Management Inc.
Forbes m agazine has classified Desjardins as the best financial institution to work for in Canada in 2025, placing the organization in the 14 ^th position overall.