Canadian Banks Show Mixed Earnings, Royal Bank Tops Expectations

Royal Bank topped profit expectations with a 13% rise in capital markets income. National Bank missed analyst estimates, but loan-loss provisions were lower than expected. Scotiabank CEO Scott Thomson will discuss the bank's strategy on BNN Bloomberg today. Canada Goose may go private after Bain Capital received bids valuing the company at $1.35 billion. Dollarama beat sales expectations, driven by strong performance in Canada, Latin America, and its new Australian market.

Canadian financial institutions and retailers reported mixed third-quarter (Q3) earnings, reflecting varying performances across different sectors. Royal Bank of Canada (RY.TO, RY) and Canada Goose Holdings (NYSE:GOOS) stood out with notable developments.

Royal Bank of Canada reported a strong Q3, with net income rising by 21% to C$5.4 billion, surpassing expectations. The bank's adjusted net income and adjusted EPS also increased by 17% and 18%, respectively, to C$5.5 billion and C$3.84. The surge was driven by higher revenue in Capital Markets, particularly in Corporate & Investment Banking and Global Markets, and increased net interest income in Personal Banking and Commercial Banking [1].

National Bank of Canada (NA), on the other hand, missed analyst estimates for adjusted EPS, reporting C$2.58, compared to the IBES estimate of C$2.69. However, the bank's adjusted net income was CAD 1,104 million, which was higher than expected. Revenue for the quarter was CAD 3,449 million, slightly below the IBES estimate of CAD 3,503 million [2].

In the retail sector, Canada Goose Holdings saw its stock rise 16% after reports emerged that Bain Capital, the controlling shareholder, has received bids to take the company private. The luxury parka maker is valued at approximately $1.35 billion, with private equity firms and other potential buyers interested in the acquisition [3]. The move could provide greater autonomy for the company without the scrutiny of public markets.

Dollarama Inc. (DOL.TO) also reported strong Q3 results, beating sales expectations. The discount retailer's performance was driven by robust growth in Canada, Latin America, and its new Australian market. The company's stock price increased following the positive earnings report.

Scotiabank's CEO, Scott Thomson, will discuss the bank's strategy on BNN Bloomberg today, providing further insights into the company's performance and future plans.

References:
[1] https://www.nasdaq.com/articles/royal-bank-canada-q3-net-income-rises
[2] https://www.tradingview.com/news/reuters.com,2025-08-27:newsml_PLX2362D0:0-brief-national-bank-of-canada-q3-adjusted-eps-cad-2-68-vs-ibes-estimate-cad-2-69/
[3] https://www.investing.com/news/stock-market-news/canada-goose-stock-soars-after-cnbc-report-on-takeprivate-bids-93CH-4212656