v3.26.1
Consolidated Statement of Cash Flows - CAD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jul. 31, 2026
Jul. 31, 2025
Jul. 31, 2026
Jul. 31, 2025
Cash Flows Provided by (Used in) Operating Activities        
Net Income $ 1,750 $ 2,330 $ 6,869 $ 6,430
Adjustments to determine net cash flows provided by operating activities:        
Securities (gains), other than trading (Note 2) (53) (49) (224) (173)
Depreciation of premises and equipment 253 252 752 750
Depreciation of other assets 2 3 5 10
Amortization and impairment of intangible assets 303 279 905 864
Net loss on divestitures (Note 13) 1,087 0 1,104 0
Provision for credit losses (Note 3) 722 797 2,207 2,862
Deferred taxes (322) (77) (437) 159
Share of (profit) in associates and joint ventures (51) (45) (129) (92)
Changes in operating assets and liabilities:        
Trading securities 7,728 (503) (12,332) (5,873)
Derivative assets (2,248) 5,813 (1,799) 5,031
Derivative liabilities 1,771 (6,464) 2,205 (8,651)
Current income taxes 183 (683) 290 (513)
Accrued interest receivable and payable (474) (498) (580) (913)
Insurance-related liabilities 179 (466) 864 102
Brokers, dealers and clients receivable and payable (1,425) 3,748 3,024 1,532
Other items and accruals, net 269 3,513 (2,913) 814
Deposits 33,835 (5,457) 41,544 (26,862)
Loans (8,990) (929) (21,242) (2,930)
Securities sold but not yet purchased (13,080) (2,155) (3,899) 16,480
Securities lent or sold under repurchase agreements (3,846) 7,349 (9,918) 16,378
Securities borrowed or purchased under resale agreements 11,079 (8,416) 20,177 (17,687)
Securitization and structured entities’ liabilities (1,932) (2,548) 11,191 9,755
Net Cash Provided by (Used in) Operating Activities 26,740 (4,206) 37,664 (2,527)
Cash Flows (Used in) Financing Activities        
Net increase (decrease) in liabilities of subsidiaries (2,049) (504) 4,768 (1,219)
Proceeds from issuance of subordinated debt (Note 4) 0 0 0 1,250
Repayment of subordinated debt (Note 4) (1,000) (1,250) (1,025) (1,250)
Proceeds from issuance of preferred shares, net of issuance costs (Note 6) 0 1,365 0 1,365
Redemption of preferred shares (Note 6) 0 0 (1,250) (300)
Net proceeds from issuance of common shares (Note 6) 57 27 145 91
Net sale (purchase) of treasury shares 4 (12) 0 3
Common shares repurchased for cancellation (Note 6) (905) (877) (3,133) (2,013)
Cash dividends and distributions paid (1,309) (1,293) (3,887) (3,800)
Cash dividends paid to non-controlling interest 0 0 (3) (3)
Repayment of lease liabilities (96) (98) (275) (236)
Net Cash (Used in) Financing Activities (5,298) (2,642) (4,660) (6,112)
Cash Flows Provided by (Used in) Investing Activities        
Interest bearing deposits with banks 229 (978) (357) (546)
Purchases of securities, other than trading (26,393) (12,590) (64,296) (47,965)
Maturities of securities, other than trading 7,556 5,639 18,694 31,021
Proceeds from sales of securities, other than trading 6,453 8,221 21,430 21,332
Net purchases of premises and equipment and software (572) (405) (1,432) (1,230)
Acquisition (Note 13) [1] 0 0 (48) 0
Net Cash Provided by (Used in) Investing Activities (12,727) (113) (26,009) 2,612
Effect of Exchange Rate Changes on Cash and Cash Equivalents 1,549 186 (393) (484)
Net increase (decrease) in Cash and Cash Equivalents 10,264 (6,775) 6,602 (6,511)
Cash and Cash Equivalents at Beginning of Period 63,822 65,362 67,484 65,098
Cash and Cash Equivalents at End of Period [2] 74,086 58,587 74,086 58,587
Net cash provided by operating activities includes:        
Interest paid in the period [3] 10,530 10,856 29,689 32,956
Income taxes paid in the period 553 1,086 1,912 2,392
Interest received in the period 15,298 15,396 44,110 46,316
Dividends received in the period $ 433 $ 521 $ 1,795 $ 1,884
[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 nine months ended July 31, 2026.
[2] We are required to maintain reserves or minimum balances with certain central banks, regulatory bodies and counterparties, totalling $61 million as at July 31, 2026 ($108 million as at October 31, 2025).
[3] Includes dividends paid on securities sold but not yet purchased.