As of December 1, 2025, the major Canadian banks (often called the “Big 6”) are entering their fiscal Q4 2025 earnings season, which covers results for the period ending October/November 2025. These dates are based on confirmed announcements from company investor relations pages, analyst reports, and financial calendars. Releases typically occur before market open (Eastern Time), followed by conference calls later in the day.
Earnings season kicks off this week, with all reports expected between December 2–5, 2025. Analysts anticipate strong overall results (e.g., ~24% YoY EPS growth for the group), driven by lower provisions for credit losses and resilient loan growth, though TD Bank faces headwinds from U.S. regulatory issues. Note: Dates can shift slightly; always verify on the company’s IR site.
Earnings Schedule Table
| Bank | Ticker (TSX) | Earnings Date | Time (ET) | Key Notes |
| Bank of Nova Scotia (Scotiabank) | BNS | December 2, 2025 (Tuesday) | Before Open | Kicks off season; focus on international ops and credit losses. |
| Royal Bank of Canada (RBC) | RY | December 3, 2025 (Wednesday) | Before Open | Consensus EPS: C$3.55; record Q3 momentum expected to continue. |
| National Bank of Canada | NA | December 3, 2025 (Wednesday) | Before Open | Smaller peer; may lag group on growth but strong in Quebec market. |
| Toronto-Dominion Bank (TD) | TD | December 4, 2025 (Thursday) | Before Open | EPS forecast: ~C$2.00; U.S. retail weakness a watch point. |
| Canadian Imperial Bank of Commerce (CIBC) | CM | December 4, 2025 (Thursday) | ~5:30 AM | EPS forecast: C$2.05; emphasis on digital banking and capital strength. |
| Bank of Montreal (BMO) | BMO | December 4, 2025 (Thursday) | Before Open | Potential beat on U.S. ops; group-high expectations for positive surprises. |
Additional Context
- Overall Outlook: Banks are “priced for perfection” at ~13x forward P/E (above 20-year avg of 10.5x), so beats could drive 5-10% stock pops, while misses may pressure shares amid economic uncertainty (e.g., 6.9% unemployment). Focus areas: Credit loss provisions (expected to ease), loan growth (subdued but stabilizing), and 2026 guidance.
- Where to Watch Live: Company IR sites (e.g., rbc.com/investor-relations), Yahoo Finance Earnings Calendar, or BNN Bloomberg for calls.
- Historical Note: Last year (Q4 2024), results were mixed with beats from RBC/Scotiabank but misses at TD/CIBC; executives braced for “cautious optimism” in 2025.
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