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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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Ontario Blocks Peel Teacher Layoffs After Taking Over School Board

 

Ontario Education Minister Paul Calandra speaks at an announcement at a school in Ottawa, on Friday, Dec. 5, 2025.


Ontario has stepped in to take control of the Peel District School Board, stopping a plan that would have resulted in 60 teachers losing their jobs and disrupted learning for more than a thousand students.

Provincial Oversight Triggered by Concerns

The province moved to assume control after identifying ongoing issues with the board’s financial management and governance. Education officials described the layoffs as an urgent concern that required immediate intervention to protect classroom stability across Mississauga, Brampton, and Caledon.

Part of a Wider Pattern

Peel is now one of several Ontario school boards placed under provincial supervision as the government responds to what it describes as systemic challenges in board operations. Another board, the York Catholic District School Board, has been asked to justify why it should not face similar action.

What This Means for Students and Staff

By halting the layoffs, the province aims to maintain staffing levels and minimize disruption for students. The move highlights growing tension between school boards and the provincial government over funding, planning, and long-term stability.


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