Six banks report this week. I read all six so you can read one.

Scotiabank, BMO, CIBC, RBC, National Bank, and TD all report Q3 between August 25th and August 27th. I'll review every release and send you the free PDF on Friday, August 28th. Revenue mix, earnings growth, provisions for credit losses, dividend growth, and the valuation problem. Six banks, side by side, in one place.

This is education, not personalized advice. Do your own due diligence.
Disclaimer: I own National Bank and Royal Bank. I review those two the same way I review the four I don't own.

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Twenty years ago it was all about savings and loans. That is what is changing in the industry.

MIKE HEROUX

INSIDE THE REPORT

1. Revenue Diversification

How much of each bank still runs on Canadian retail, and which ones are carrying the quarter from somewhere else.

2. Earnings Growth

Which segments grew, which stalled, and how much of the growth came from the operating business.

3. Provisions for Credit Losses (PLCs)

The line that moves first when consumers get tight. What the six of them are signaling together.

4. Dividend Growth

Which banks raised, by how much, and where the payout ratio sits after the raise.

5. The Valuation Problem

What you are paying for the Big 6 today, next to what you have paid for them in the past.

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Updated August 2026