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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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Canadian Military Issues Historic Apology for Racial Discrimination

 

Gen. Jennie Carignan, chief of the defence staff, delivers an apology on behalf of the Canadian Armed Forces to current and former CAF members and their families who have experienced racial discrimination and racial harassment in connection to their military service in Ottawa on Thursday.


The Canadian Armed Forces (CAF) has taken a significant step toward reconciliation and accountability as Chief of the Defence Staff Gen. Jennie Carignan delivered a formal apology for the military’s long history of racial discrimination and harassment. Speaking in Ottawa, Carignan acknowledged the systemic barriers and mistreatment faced by First Nations, Inuit, Métis, Black, Asian, and other racialized members of the CAF over decades.

In an emotional address, Carignan admitted that the institution had failed its members by not creating an environment where all could serve equally and with dignity. She emphasized that the apology was not just symbolic but part of a broader commitment to tangible reforms aimed at addressing systemic racism within the ranks. “We all know that an apology that is not accompanied by a tangible effort to address our failures, to remedy wrongs, would be hollow and without real meaning,” she said.

The apology was also delivered alongside Chief Warrant Officer Bob McCann, who joined Carignan in recognizing the pain and exclusion experienced by racialized service members and their families. Both leaders pledged to ensure that the CAF becomes a more inclusive institution, where diversity is respected and valued.

This moment marks a historic milestone for the Canadian military, which has faced longstanding criticism for its handling of racial discrimination and harassment complaints. For many veterans and active members, the apology represents long-overdue recognition of their struggles. However, Carignan stressed that the real test will be in the actions that follow—ensuring that policies, leadership, and culture within the CAF evolve to prevent future injustices.

The apology has been welcomed by advocacy groups and community leaders, though many have underscored the importance of accountability and measurable progress. As Canada continues to reckon with its broader history of systemic racism, the CAF’s acknowledgment stands as both a reckoning with the past and a promise for a more equitable future.


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