Desjardins Group: Earnings Continue to Recover in Q3 2020 with Provisioning Expense Declining Substantially
Desjardins Group (Desjardins or the Group) reported Q3 2020 net income of $729 million, a 38% increase quarter over quarter, as provisioning expenses declined and both the Personal and Business Services (PB&S) and the Property and Casualty Insurance (P&C) segments generated solid growth. DBRS Limited (DBRS Morningstar) notes that, although the Coronavirus Disease (COVID-19) pandemic may affect Desjardins' near-term performance, the Group remains well positioned to mitigate the impacts.
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