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Consolidated statement of income - CAD ($)
$ in Millions
3 Months Ended
Jan. 31, 2025
Oct. 31, 2024
Jan. 31, 2024
Interest income (Note 14)      
Loans [1] $ 8,296 $ 8,668 $ 8,281
Securities [1] 2,340 2,393 2,306
Securities borrowed or purchased under resale agreements [1] 1,390 1,441 1,390
Deposits with banks and other [1] 693 729 757
Interest income [1] 12,719 13,231 12,734
Interest expense (Note 14)      
Deposits 6,906 7,476 7,711
Securities sold short 133 163 156
Securities lent or sold under repurchase agreements 1,670 1,719 1,354
Subordinated indebtedness 107 120 120
Other 102 120 144
Interest expense 8,918 9,598 9,485
Net interest income 3,801 3,633 3,249
Non-interest income      
Underwriting and advisory fees 181 182 169
Deposit and payment fees 246 250 231
Credit fees 245 217 366
Card fees 114 105 100
Investment management and custodial fees 553 526 458
Mutual fund fees 531 465 445
Income from insurance activities, net 84 85 97
Commissions on securities transactions 137 129 87
Gains (losses) from financial instruments measured/designated at fair value through profit or loss (FVTPL), net 1,161 827 845
Gains (losses) from debt securities measured at fair value through other comprehensive income (FVOCI) and amortized cost, net 13 (6) 15
Foreign exchange other than trading (FXOTT) 97 93 92
Income (loss) from equity-accounted associates and joint ventures 26 18 16
Other 92 93 51
Non-interest income 3,480 2,984 2,972
Total revenue 7,281 6,617 6,221
Provision for credit losses (Note 6) 573 419 585
Non-interest expenses      
Employee compensation and benefits 2,277 2,207 1,950
Occupancy costs 201 208 217
Computer, software and office equipment 696 723 621
Communications 96 89 86
Advertising and business development 88 103 77
Professional fees 65 74 52
Business and capital taxes 36 34 35
Other (Notes 13) 419 353 427
Non-interest expenses 3,878 3,791 3,465
Income before income taxes 2,830 2,407 2,171
Income taxes 659 525 443
Net income 2,171 1,882 1,728
Net income attributable to non-controlling interests 8 8 12
Preferred shareholders and other equity instrument holders 88 72 67
Common shareholders 2,075 1,802 1,649
Net income attributable to equity shareholders $ 2,163 $ 1,874 $ 1,716
Earnings per share (in dollars) (Note 12)      
Basic $ 2.2 $ 1.91 $ 1.77
Diluted 2.19 1.9 1.77
Dividends per common share (in dollars) $ 0.97 $ 0.9 $ 0.9
[1] Interest income included $11.5 billion for the quarter ended January 31, 2025 (October 31, 2024: $12.2 billion; January 31, 2024: $11.9 billion), calculated based on the effective interest rate method.