v3.26.1
Operating Segmentation
 9 Months Ended
Jul. 31, 2026
Disclosure of operating segments [abstract]  
Operating Segmentation
Note 12: Operating Segmentation
Operating Segments
We conduct our business through four operating segments, each of which has a distinct mandate. Our operating segments are Canadian Personal and Commercial Banking (Canadian P&C), U.S. Banking, Wealth Management and Capital Markets, along with a Corporate Services unit.
For additional information refer to Note 25 of our annual consolidated financial statements for the year ended October 31, 2025.

Our results and average assets, grouped by operating segment, are as follows:
(Canadian $ in millions)
Canadian
Wealth
Capital
Corporate
For the three months ended July 31, 2026P&C
U.S. Banking (1)
Management
Markets (1)
Services (1) (2)
Total
Net interest income
$2,558 $2,390 $315 $583 $(279)$5,567 
Non-interest revenue699 644 1,264 1,544 178 4,329 
Total Revenue3,257 3,034 1,579 2,127 (101)9,896 
Provision for credit losses on impaired loans447 223 2 30 6 708 
Provision for (recovery of) credit losses on performing loans60 (50)(3)11 (4)14 
Total provision for credit losses
507 173 (1)41 2 722 
Depreciation and amortization182 228 68 79 – 557 
Non-interest expense1,217 1,522 966 1,150 1,266 6,121 
Income (loss) before taxes and non-controlling interest in subsidiaries1,351 1,111 546 857 (1,369)2,496 
Provision for (recovery of) income taxes371 243 138 212 (218)746 
Reported net income (loss)$980 $868 $408 $645 $(1,151)$1,750 
Non-controlling interest in subsidiaries$– $1 $– $– $1 $2 
Net income (loss) attributable to bank shareholders$980 $867 $408 $645 $(1,152)$1,748 
Average assets (3)
$351,274 $254,477 $59,923 $614,772 $290,028 $1,570,474 
Canadian
Wealth
Capital
Corporate
For the three months ended July 31, 2025P&C
U.S. Banking (1)
Management
Markets (1)
Services (1) (2)
Total
Net interest income
$2,459 $2,221 $257 $729 $(170)$5,496 
Non-interest revenue617 609 1,108 1,047 111 3,492 
Total Revenue3,076 2,830 1,365 1,776 (59)8,988 
Provision for credit losses on impaired loans489 241 1 33 9 773 
Provision for (recovery of) credit losses on performing loans76 (70)2 23 (7)24 
Total provision for (recovery of) credit losses
565 171 3 56 2 797 
Depreciation and amortization162 237 54 80 – 533 
Non-interest expense1,179 1,433 788 1,052 120 4,572 
Income (loss) before taxes and non-controlling interest in subsidiaries1,170 989 520 588 (181)3,086 
Provision for (recovery of) income taxes
321 222 128 146 (61)756 
Reported net income (loss)$849 $767 $392 $442 $(120)$2,330 
Non-controlling interest in subsidiaries$– $2 $– $– $1 $3 
Net income (loss) attributable to bank shareholders$849 $765 $392 $442 $(121)$2,327 
Average assets (3)
$345,353 $251,683 $53,484 $514,825 $268,397 $1,433,742 
(1) Operating segments report on a taxable equivalent basis (teb). Net interest income, revenue and the provision for income taxes are increased on tax-exempt securities to an equivalent before-tax basis to facilitate comparisons of income between taxable and tax-exempt sources. The offset to the groups’ teb adjustments is reflected in Corporate Services net interest income, revenue and provision for income taxes.
(2) Corporate Services includes Technology and Operations.
(3) Included within average assets are average earning assets, which comprise deposits with other banks, deposits at central banks, securities borrowed or purchased under resale agreements, loans and securities. Total average earning assets for the three months ended July 31, 2026 are $1,379,889 million, including $349,292 million for Canadian P&C, $235,937 million for U.S. Banking, and $794,660 million for all other operating segments including Corporate Services (for the three months ended July 31, 2025 - Total: $1,287,815 million, Canadian P&C: $343,805 million, U.S. Banking: $230,849 million and all other operating segments: $713,161 million).
Certain comparative figures have been reclassified to conform with the current period’s presentation.
(Canadian $ in millions)
Canadian
Wealth
Capital
Corporate
For the nine months ended July 31, 2026P&C
U.S. Banking (1)
Management
Markets (1)
Services (1) (2)
Total
Net interest income$7,506 $6,874 $906 $1,793 $(601)$16,478 
Non-interest revenue2,106 1,915 3,703 4,660 425 12,809 
Total Revenue9,612 8,789 4,609 6,453 (176)29,287 
Provision for credit losses on impaired loans1,421 662 5 74 19 2,181 
Provision for (recovery of) credit losses on performing loans
120 (86)(1)4 (11)26 
Total provision for credit losses1,541 576 4 78 8 2,207 
Depreciation and amortization533 680 198 238 – 1,649 
Non-interest expense3,661 4,471 2,834 3,533 1,613 16,112 
Income (loss) before taxes and non-controlling interest in subsidiaries3,877 3,062 1,573 2,604 (1,797)9,319 
Provision for (recovery of) income taxes1,065 662 385 664 (326)2,450 
Reported net income (loss)$2,812 $2,400 $1,188 $1,940 $(1,471)$6,869 
Non-controlling interest in subsidiaries$– $3 $– $– $2 $5 
Net income (loss) attributable to bank shareholders$2,812 $2,397 $1,188 $1,940 $(1,473)$6,864 
Average assets (3)$348,396 $247,690 $57,861 $601,878 $279,965 $1,535,790 
Canadian
Wealth
Capital
Corporate
For the nine months ended July 31, 2025P&C
U.S. Banking (1)
Management
Markets (1)
Services (1) (2)
Total
Net interest income$7,203 $6,783 $746 $1,902 $(643)$15,991 
Non-interest revenue1,869 1,825 3,202 3,726 320 10,942 
Total Revenue9,072 8,608 3,948 5,628 (323)26,933 
Provision for credit losses on impaired loans1,456 801 3 96 41 2,397 
Provision for (recovery of) credit losses on performing loans
259 123 3 107 (27)465 
Total provision for credit losses1,715 924 6 203 14 2,862 
Depreciation and amortization472 745 161 244 – 1,622 
Non-interest expense3,453 4,391 2,398 3,235 452 13,929 
Income (loss) before taxes and non-controlling interest in subsidiaries3,432 2,548 1,383 1,946 (789)8,520 
Provision for (recovery of) income taxes942 545 343 481 (221)2,090 
Reported net income (loss)$2,490 $2,003 $1,040 $1,465 $(568)$6,430 
Non-controlling interest in subsidiaries$– $7 $– $– $2 $9 
Net income (loss) attributable to bank shareholders$2,490 $1,996 $1,040 $1,465 $(570)$6,421 
Average assets (3)$343,543 $259,617 $53,038 $552,478 $277,446 $1,486,122 
(1) Operating segments report on a taxable equivalent basis (teb). Net interest income, revenue and the provision for income taxes are increased on tax-exempt securities to an equivalent before-tax basis to facilitate comparisons of income between taxable and tax-exempt sources. The offset to the groups’ teb adjustments is reflected in Corporate Services net interest income, revenue and provision for income taxes.
(2) Corporate Services includes Technology and Operations.
(3) Included within average assets are average earning assets, which comprise deposits with other banks, deposits at central banks, securities borrowed or purchased under resale agreements, loans and securities. Total average earning assets for the nine months ended July 31, 2026 are $1,352,419 million, including $346,697 million for Canadian P&C, $228,772 million for U.S. Banking, and $776,950 million for all other operating segments including Corporate Services (for the nine months ended July 31, 2025 - Total: $1,305,339 million, Canadian P&C: $341,670 million, U.S. Banking: $238,149 million and all other operating segments: $725,520 million).
Certain comparative figures have been reclassified to conform with the current period’s presentation.