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# Canada's big six banks lift fiscal Q1 adjusted net income 10%, Fitch says
- URL: https://www.theglobalbanker.com/canada-s-big-six-banks-lift-fiscal-q1-adjusted-net-income-10-fitch-says/
- Published: 2026-03-02T15:00:00.000Z
- Updated: 2026-10-01T21:27:05.000Z
- Description: Aggregate revenue at Canada's six domestic systemically important banks rose 11% in the quarter to 31 January, with provisions for credit losses up 4% and median CET1 ratios edging higher, according to Fitch Ratings.
- Author: TGB Editorial Team
- Tags: Banking News, Americas

Canada's six domestic systemically important banks (D-SIBs) reported a 10% rise in aggregate adjusted net income for their fiscal first quarter of 2026, according to an analysis by Fitch Ratings reported on 2 March 2026\. Aggregate revenue rose 11% year on year in the three months to 31 January.

The six D-SIBs are Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce and National Bank of Canada.

#### BROAD-BASED REVENUE GAINS

Revenue in Canadian personal and commercial banking rose 3%, "backed by modest loan growth and a steady net interest margin", Fitch said. International banking revenue increased 7% on improved volumes and wider margins. Wealth management benefited from market appreciation, higher assets and elevated transactional revenue, while capital markets units recorded strong fixed income and equities trading, elevated underwriting and advisory activity, and robust corporate banking client activity.

Provisions for credit losses rose 4% in the quarter. The ratio of provisions to gross loans stood at 0.4%, up 2 basis points from the previous quarter but down from 0.47% a year earlier, while the median gross impaired loan ratio was unchanged at 0.86%. The median common equity tier 1 (CET1) ratio increased to 13.7% from 13.5% at the end of fiscal 2025\. Fitch said the banks continued to prioritise deploying capital in organic growth, followed by share buybacks, with most raising dividends.

#### NATIONAL BANK RESULTS

Among the individual lenders, National Bank of Canada reported net income of C$1.25 billion for the quarter, up 26% from C$997 million a year earlier. Adjusted diluted earnings per share rose 11% to C$3.25 and total revenue increased 22% to C$3.89 billion. The bank attributed its higher earnings to good performance in all business segments and the inclusion of Canadian Western Bank, which it acquired in February 2025\. National Bank's CET1 ratio was 13.7% at 31 January, compared with 13.8% at 31 October 2025.