May 28, 2022

The Queens County Citizen

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Desjardines: Surplus before members’ dividends increase by 65.2%

Desjardines: Surplus before members' dividends increase by 65.2%

Desjardins recorded a surplus of more than $ 2.5 billion in member dividends in the first nine months of 2021, an increase of 65.2% over the same period last year.

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In the first nine months of 2021, Desjardines’ operating income rose 9.8% to $ 14.9 billion, compared to 2020.

Compared to $ 314 million for the corresponding period of 2020, members and the community have returned to $ 335 million since the beginning of the year.

The good performance of the third quarter of 2021 contributed to these positive results. Surplus before members dividend $ 816 million. This $ 87 million increase translates to an 11.9% increase compared to the third quarter of 2020.

In terms of operating revenues, it was $ 5.25 billion from July to September 2021. This is an increase of 13.1%.

For its part, the total return to members and the community was $ 114 million. This result is $ 10 million more in 2020 compared to the same period.

“The excellent results of the Desjardines Group in the third quarter follow the trend that started at the beginning of the year,” Guy Carmier, President and CEO of Desjardins, said Friday. Surpluses and refunds are on the rise, especially due to Kaisse Network’s robust performance and low risk rate in loss insurance. ”

In general, Deszardins recorded a significant reduction in the cost of claims in 2021, especially for auto insurance.

Keep in mind that the first nine months of surplus ending September 30, 2020, marked the beginning of the Kovid-19 pandemic. The allocation of debt losses was affected by the impact of the declining economic outlook.

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“I am proud of the work of the Great Desjardines team and our efforts for green socio-economic recovery,” the manager commented.