Desjardins Posts Strong 2024 Results, Advances Strategic Growth with Major Acquisition and Digital Push
Montreal, January 22, 2026 – Desjardins Group, North America’s largest financial cooperative, is navigating a period of significant strategic expansion and technological modernization. Following excellent financial results for 2024, the institution is progressing with a landmark $1.67 billion acquisition and maintaining a substantial annual investment in its digital infrastructure to better serve its 7.7 million members and clients.
2024 Financial Performance and Community Impact
Desjardins reported surplus earnings before member dividends of $3.36 billion for the fiscal year ended December 31, 2024, an increase of $1.1 billion from the previous year. Total assets grew by 11.3% to $470.9 billion. The cooperative returned $437 million in member dividends and invested $120 million in sponsorships, donations, and scholarships, with $65 million sourced from local caisse Community Development Funds. Key community initiatives included commitments to support the construction of over 1,750 affordable housing units in partnership with the Quebec government and continued funding through its $280 million GoodSpark Fund for regional socioeconomic development.
Key Facts & Strategic Milestones
| Initiative | Details |
|---|---|
| Guardian Capital Acquisition | Announced August 28, 2025. All-cash deal valued at $1.67 billion. Expected to close in Q1 2026, pending approvals. Will create a combined asset management platform with approximately $280 billion in assets under management and advisement. |
| Annual Technology Investment | Desjardins is investing $2 billion annually in technology modernization, targeting software development, cybersecurity, and digital banking platforms to improve member experience and operational agility. |
| Digital Transformation Success | Online product sales have increased from 25% to roughly 40% in four years, placing Desjardins approximately 10 percentage points ahead of other major Canadian banks. Its Net Promoter Score (NPS) for online experience has risen significantly. |
| AI-Powered Member Support | The virtual assistant “Alvie” provides personalized financial insights and budgeting tools within the mobile app, part of a strategy to enhance financial empowerment for members. |
Leadership on Affordable Housing and Financial Literacy
Beyond its balance sheet, Desjardins has solidified its role as a key player in addressing national challenges. The cooperative has launched innovative financing models to accelerate affordable housing delivery, aiming to support more than 10,000 units by 2028. In financial education, it has expanded its “School Caisse” program with a new mobile app for children and introduced short-form educational videos for youth aged 15 to 25 through its “Personal Finance: I’m in Charge” program.
Frequently Asked Questions
What is the status of the Guardian Capital acquisition?
The acquisition of Guardian Capital Group Limited was announced on August 28, 2025. Desjardins has entered into a definitive agreement for the all-cash transaction, which is currently subject to court, shareholder, and regulatory approvals. The deal is expected to be finalized in the first quarter of 2026.
How is Desjardins improving its digital services?
The cooperative is in the midst of a multi-year, front-to-back technology modernization program. This includes updating core banking systems, enhancing its mobile app, and implementing an “employee previews” initiative where 17,000 staff test new features before public release to ensure quality and familiarity.
What were Desjardins’ key financial metrics for 2024?
For the 2024 fiscal year, Desjardins reported total net revenue of $14.66 billion (up 16.6%), net interest income of $7.47 billion (up 12.9%), and a strong Tier 1A capital ratio of 22.2%. Total assets reached $470.9 billion.