v3.26.1
Consolidated Statement of Cash Flows - CAD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Apr. 30, 2026
Apr. 30, 2025
Apr. 30, 2026
Apr. 30, 2025
Cash Flows Provided by (Used in) Operating Activities        
Net Income $ 2,630 $ 1,962 $ 5,119 $ 4,100
Adjustments to determine net cash flows provided by operating activities:        
Securities (gains), other than trading (Note 2) (86) (66) (171) (124)
Depreciation of premises and equipment 248 245 499 498
Depreciation of other assets 1 3 3 7
Amortization of intangible assets 296 296 590 584
Write-down of goodwill and intangible assets 18 0 29 1
Provision for credit losses (Note 3) 739 1,054 1,485 2,065
Deferred taxes (131) 65 (115) 236
Share of (profit) loss in associates and joint ventures (37) 2 (78) (47)
Changes in operating assets and liabilities:        
Trading securities (11,765) 2,722 (20,060) (5,370)
Derivative assets 12,946 7,520 449 (782)
Derivative liabilities (7,706) (10,570) 434 (2,187)
Current income taxes 325 146 107 170
Accrued interest receivable and payable 209 (166) (106) (415)
Insurance-related liabilities (83) (203) 685 568
Brokers, dealers and clients receivable and payable 8,315 (2,899) 4,449 (2,216)
Other items and accruals, net (6,257) 6,473 (3,182) (2,699)
Deposits 13,243 (12,363) 7,709 (21,405)
Loans (11,428) (3,307) (12,252) (2,001)
Securities sold but not yet purchased 15,654 10,577 9,181 18,635
Securities lent or sold under repurchase agreements (6,562) 769 (6,072) 9,029
Securities borrowed or purchased under resale agreements (8,203) (12,182) 9,098 (9,271)
Securitization and structured entities’ liabilities 6,758 6,729 13,123 12,303
Net Cash Provided by (Used in) Operating Activities 9,124 (3,193) 10,924 1,679
Cash Flows Provided by (Used in) Financing Activities        
Net increase (decrease) in liabilities of subsidiaries 3,763 279 6,817 (715)
Proceeds from issuance of subordinated debt (Note 4) 0 1,250 0 1,250
Repayment of subordinated debt (Note 4) 0 0 (25) 0
Redemption of preferred shares (Note 6) 0 0 (1,250) (300)
Net proceeds from issuance of common shares (Note 6) 20 20 88 64
Net sale (purchase) of treasury shares 5 22 (4) 15
Common shares repurchased for cancellation (Note 6) (1,160) (963) (2,228) (1,136)
Cash dividends and distributions paid (1,260) (1,224) (2,578) (2,507)
Cash dividends paid to non-controlling interest (3) (3) (3) (3)
Repayment of lease liabilities (100) (78) (179) (138)
Net Cash Provided by (Used in) Financing Activities 1,265 (697) 638 (3,470)
Cash Flows Provided by (Used in) Investing Activities        
Interest bearing deposits with banks (472) (20) (586) 432
Purchases of securities, other than trading (24,340) (16,819) (37,903) (35,375)
Maturities of securities, other than trading 6,150 8,682 11,138 25,382
Proceeds from sales of securities, other than trading 5,558 3,984 14,977 13,111
Net purchases of premises and equipment and software (476) (439) (860) (825)
Acquisition (Note 13) [1] 0 0 (48) 0
Net Cash Provided by (Used in) Investing Activities (13,580) (4,612) (13,282) 2,725
Effect of Exchange Rate Changes on Cash and Cash Equivalents (365) (2,596) (1,942) (670)
Net increase (decrease) in Cash and Cash Equivalents (3,556) (11,098) (3,662) 264
Cash and Cash Equivalents at Beginning of Period 67,378 76,460 67,484 65,098
Cash and Cash Equivalents at End of Period [2] 63,822 65,362 63,822 65,362
Net cash provided by operating activities includes:        
Interest paid in the period [3] 9,333 10,423 19,159 22,100
Income taxes paid in the period 476 826 1,359 1,306
Interest received in the period 14,145 14,807 28,812 30,920
Dividends received in the period $ 779 $ 637 $ 1,362 $ 1,363
[1] This amount is net of $13 million cash and cash equivalents acquired as part of the acquisition of Burgundy Asset Management Ltd. (Burgundy) for the six months ended April 30, 2026.
[2] We are required to maintain reserves or minimum balances with certain central banks, regulatory bodies and counterparties, totalling $58 million as at April 30, 2026 ($108 million as at October 31, 2025).
[3] Includes dividends paid on securities sold but not yet purchased.