Canada's Big Six just posted $69.9 billion in net income for fiscal 2025.
This started as a post on my social channels. Here's that version, with the six reported totals behind the number.
What each bank reported
These are reported net income figures for the fiscal year ended October 31, 2025, in Canadian dollars:
- TD: $20.538 billion. That total includes a one-time gain of about $8.6 billion on the sale of its remaining Schwab stake on February 12, 2025.
- RBC: $20.369 billion.
- BMO: $8.725 billion.
- CIBC: $8.454 billion.
- Scotiabank: $7.758 billion.
- National Bank: $4.017 billion.
Add them up: 20.369 + 20.538 + 7.758 + 8.725 + 8.454 + 4.017 = C$69.861 billion. That's the $69.9 billion on the graphic. The beams round each bank to one decimal: TD $20.5 billion, RBC $20.4 billion, BMO $8.7 billion, CIBC $8.5 billion, Scotiabank $7.8 billion and National Bank $4.0 billion.
Five in Toronto, one in Montreal
On the map, each beam marks a bank's head office: five in Toronto, and National Bank in Montreal.
Shop it, compare, negotiate
My take? The banks are clearly fine. Which means when your mortgage renewal or pre-approval comes up in Greater Vancouver, you do not have to take the first offer your current lender slides across the table.
Shop it. Compare. Negotiate. A quarter-point here and there on a Tri-Cities, BC condo or townhouse adds up fast over five years.
Both sides of it
Sellers benefit when buyers can actually get approved. Buyers benefit when they treat the bank like any other vendor and ask for a better deal.
If you're a newcomer lining up a first pre-approval in Greater Vancouver, the same idea applies. Start with my page for home buyers. If you're still choosing a neighbourhood, my guide to relocating to Greater Vancouver covers the region from Vancouver out to the Tri-Cities, BC.
Would you switch lenders for a better rate, or stick with who you know?