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 from operating activities        
Net income $ 2,953 $ 2,527 $ 7,884 $ 5,552
Adjustment for:        
Net interest income [1] (5,866) (5,493) (16,969) (15,936)
Depreciation and amortization 398 405 1,193 1,201
Provision for credit losses 1,079 1,041 3,472 3,601
Equity-settled share-based payment expense (1) 2 9 13
Net gain on sale of investment securities (13) (22) (46) (60)
Net (gain)/loss on divestitures 0 (23) 434 1,374
Net income from investments in associated corporations (222) (157) (633) (429)
Income tax expense 947 829 2,618 2,095
Changes in operating assets and liabilities:        
Trading assets (2,066) (7,000) (10,289) (6,066)
Securities purchased under resale agreements and securities borrowed (14,926) 7,982 (69,655) 15,586
Loans (7,544) (4,615) (18,042) (2,982)
Deposits 13,689 1,418 60,931 6,605
Obligations related to securities sold short 1,485 (1,921) 1,830 (501)
Obligations related to securities sold under repurchase agreements and securities lent (18,136) 3,382 36,639 (8,826)
Net derivative financial instruments (1,201) (4,925) (1,832) 4,604
Other, net 7,245 6,565 1,410 (6,948)
Interest and dividends received 13,945 14,103 40,482 43,932
Interest paid (7,788) (8,855) (23,626) (28,440)
Income tax paid (785) (860) (2,666) (2,779)
Net cash from/(used in) operating activities (16,807) 4,383 13,144 11,596
Cash flows from investing activities        
Interest-bearing deposits with financial institutions 19,750 (4,826) 2,858 (3,343)
Purchase of investment securities (22,029) (14,403) (67,725) (57,082)
Proceeds from sale and maturity of investment securities 21,551 19,575 61,157 60,475
Acquisition/divestiture of subsidiaries, associated corporations or business units, net of cash acquired (17)   (1,256) (2,637)
Property and equipment, net of disposals (127) (69) (483) (197)
Other, net (83) (109) (24) (308)
Net cash from/(used in) investing activities 19,045 168 (5,473) (3,092)
Cash flows from financing activities        
Proceeds from issue of subordinated debentures 1,250   1,250  
Redemption of subordinated debentures   (250) (1,786) (250)
Proceeds from preferred shares and other equity instruments issued       1,453
Redemption of preferred shares and other equity instruments   (1,688)   (1,688)
Proceeds from common shares issued 56 10 196 94
Common shares purchased for cancellation (1,011) (240) (2,138) (240)
Cash dividends and distributions paid (1,521) (1,501) (4,490) (4,399)
Distributions to non-controlling interests (17) (16) (69) (63)
Payment of lease liabilities (82) (76) (230) (225)
Other, net 129 84 (391) (873)
Net cash from/(used in) financing activities (1,196) (3,677) (7,658) (6,191)
Effect of exchange rate changes on cash and cash equivalents 184 38 60 1
Net change in cash and cash equivalents 1,226 912 73 2,314
Cash and cash equivalents at beginning of period [2] 9,103 10,808 10,256 9,406
Cash and cash equivalents at end of period [2] $ 10,329 $ 11,720 $ 10,329 $ 11,720
[1] Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure.
[2] Represents cash and non-interest-bearing deposits with financial institutions (refer to Note 5).