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Big Bank Earnings Are In: What They Reveal About Your Mortgage Stress

  August 26, 2026 Canada's biggest banks are in the middle of reporting Q3 2026 results, and so far the headline numbers look strong. BMO and Scotiabank both beat analyst estimates this week, and National Bank of Canada reported this morning. RBC, TD, and CIBC follow Thursday, closing out the sector's earnings season. But the number that actually matters to most Canadians isn't profit — it's what the banks are setting aside for loans that might go bad, and what they're saying about who's struggling to keep up. That's where the picture gets more interesting than the headlines suggest. The headline numbers BMO kicked off the week with adjusted profit up 22% year-over-year and return on equity climbing to 14%, with the bank reiterating its target of 15% ROE by the end of fiscal 2027. Scotiabank posted what CEO Scott Thomson called a record quarter: net income of $3 billion, up 21% year-over-year, with adjusted ROE hitting 14.2% — clearing the bank's own med...
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Mark Carney's Alberta Roots: A Strategic Launch for Liberal Leadership

 

 Mark Carney, the former Governor of the Bank of Canada, is set to unveil his Liberal leadership campaign this afternoon in Edmonton, ending nearly a decade of speculation about his political ambitions. 

Carney's decision to launch his campaign from Alberta is a strategic move to highlight his roots in the province. An Edmonton Oilers fan, Carney grew up in the city's west end and worked as a newspaper boy. This launch gives him a chance to connect with voters in a province that has traditionally leaned conservative.

The leadership race is expected to be intense, with former finance minister Chrystia Freeland and government House leader Karina Gould also expected to enter the race in the coming days. The cut-off date to declare a bid for the leadership is January 23, and candidates have to pay a $350,000 entrance fee. 

Carney will seek to position himself as an outsider and put some distance between himself and the deeply unpopular government of outgoing Prime Minister Justin Trudeau. Pierre Poilievre's Conservatives will attempt to tie Carney to the Trudeau government's sinking brand and attack him over his past support of carbon pricing and his recent work advising the Liberal party on economics.

Launching his campaign in Edmonton gives Carney a chance to put his Alberta roots on full display as Canadians get to know him. Alberta could shape up to be an intense battleground between Carney and Freeland, who also grew up in the province.



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