Résultats 2018 Mouvement Desjardins
AN ACTIVE AND INVOLVED GROUP. Achievements in the fourth quarter included the official opening of the Tour de Montréal, an award received for being the coolest financial institution according to millennials, and our contribution to support the growth of the Guilde des développeurs de jeux vidéo indépendants.

$389 million returned to members and the community, an increase of 21.6% or an extra $69 million

Lévis (Qc), February 27, 2019 - For the fiscal year ended December 31, 2018, Desjardins Group, Canada's leading financial cooperative group, recorded surplus earnings before member dividends of $2,326 million, up $175 million from fiscal 2017. This result includes a gain of $129 million, net of income taxes, in the second quarter of 2018 realized on the creation of Aviso Wealth. It should also be recalled that fiscal 2017 benefited from a gain net of expenses related to the sale of Western Financial Group Inc. and Western Life Assurance Company. Adjusted surplus earnings(1) were therefore up $295 million or 15.5%. These results allowed Desjardins Group to pursue its cooperative mission for the benefit of its members and clients, and maintain its excellent financial stability.

The amount returned to members and the community was $389 million, including a $253 million provision for member dividends (Q4 2017: $202 million), $94 million in sponsorships, donations and scholarships (Q4 2017: $82 million) and $42 million in Desjardins Member Advantages (Q4 2017: $36 million). There were also commitments related to the $100 million fund, dedicated to regional development, in an amount of $53 million for fiscal 2018.

"I am very proud of Desjardins Group's performance," said Guy Cormier, President and Chief Executive Officer. "Our membership grew at the fastest rate in 10 years, and this includes young adults. Moreover, surplus earnings are growing and living up to our expectations. We also received an award from Corporate Knights for our new ETFs and SocieTerra fund, underscoring Desjardins Group's leadership in achieving the objectives of the Paris Accord. I don't think there is any doubt that efforts to continually strengthen our member and client culture and our digital shift have a lot to do with the remarkable results last year."

Fiscal 2018 financial results

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Giving back to the community

Since the third quarter, in addition to the sustained commitment of the caisses in the communities they serve, here are some of the other ways that Desjardins is making a positive difference in people's lives.
 
  • Support for the growth of the Guilde des développeurs de jeux vidéo indépendants in an amount of $750,000.
  • Official opening of the Montreal offices of AccèsD in the Tour de MontréalOver 1,000 employees from three different sites now work in an open-concept environment in light-filled spaces and are reinvigorating the neighbourhood.
  • Contribution of $150,000 to Morrin Centrea leading English-language cultural hub in Quebec City's old town, for its new educational tourist attraction.
  • Support, in the form of a $750,000 donation, for the fundraising campaign of the Académie Saint-Louis for the construction of a sports centre that will be open to all the community's residents.
Innovating

Desjardins is constantly innovating to meet the needs of its members and clients. Here are just a few examples of the financial group's recent initiatives and the recognition it has received for its expertise.

  • Desjardins is the coolest financial institution in Canada according to Quebec millennials! This is according to Leger's 2018 Youth Study.
  • Installation of a satellite office specialized in information technologies in the commercial spaces of the DigiHub Shawinigan at the Centre d'entrepreneuriat Alphonse-Desjardins. This represents a $25 million investment over five years and the creation of close to 30 jobs.
  • Opening of a new customer relations centre with clients in Rimouski. Ultimately some 40 jobs will be created in the region.
  • Desjardins ranks among the Top 5 better world funds according to Corporate Knights.

For journalists only: Chantal Corbeil
514-281-7229 or 1-866-866-7000, ext. 5557229
media@desjardins.com