Desjardins Group: Q4 2020 Core Earnings Improve Despite Higher Provisions For Credit Losses

Desjardins Group reported Q4 2020 net income of $876 million, a 20% increase quarter over quarter, driven by solid revenue generation across all business segments partially offset by higher provision for credit losses (PCL). Positively, F2020 net income increased by 5.7% to $2.4 billion despite a sharp 140% year-over-year increase in PCL to $863 million.