La Caisse Centrale Desjardins Du Québec, a cooperative institution, offers financial services to Desjardins Group, governments, public and parapublic sector institutions, individuals, medium-sized businesses, and large corporations in Canada. Its personal products and services include accounts and related services; credit cards and prepaid cards, private-label credit cards, lines of credit, auto and other vehicle loans, personal loans, mortgages, loan portfolio management, student loans, and RRSP loans; guaranteed fixed-rate investments, market-linked guaranteed investments, investment funds, mutual funds, tax-free savings accounts, retirement savings, and wealth management solutions; and ca...
1170 Peel Strret
Montreal, QC H3B 0B1
Founded in 1979
Caisse centrale Desjardins du Québec Reports Audited Consolidated Earnings Results for the Year Ended December 31, 2013; Provides Earnings Guidance for the Full Year of 2014
Mar 4 14
Caisse centrale Desjardins du Québec reported audited consolidated earnings results for the year ended December 31, 2013. For the year, the company reported interest income of CAD 637,034 million compared to CAD 603,421,000 a year ago. Net interest income was CAD 256,819,000 compared to CAD 278,717,000 a year ago. Operating income was CAD 167,034,000 compared to CAD 147,415,000 a year ago. Net income was CAD 168,747,000 compared to CAD 144,662,000 a year ago. Cash used in operating activities were CAD 190,309,000 compared to cash from operating activities of CAD 165,187,000 a year ago. Acquisition of premises and equipment and intangible assets was CAD 10,596,000 against CAD 9,586,000 for the same period in the last year.
The company provided earnings guidance for the full year of 2014. For the year, CCD will continue to face a low interest rate environment. As a result of these low interest rates, combined with the strong competition in the industry, net interest income will again come under pressure in 2014. CCD will also continue to rigorously manage non-interest expense.