The Business Development Bank of Canada reported $402 million in net income for fiscal 2025, which ended on March 31, $92 million below what the Crown corporation anticipated. BDC said the $624 million in credit loss provisions—$205 million more than expected—were in part to blame for the income miss, as the bank braces for U.S. tariffs to impact its business clients. (The Logic)
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The Business Development Bank of Canada reported $402 million in net income for fiscal 2025, which ended on March 31, $92 million below what the Crown corporation anticipated. BDC said the $624 million in credit loss provisions—$205 million more than expected—were in part to blame for the income miss, as the bank braces for U.S. tariffs to impact its business clients. (The Logic)
Talking point: BDC’s weaker-than-expected fiscal performance means the federal government, the bank’s sole shareholder, gets a much smaller dividend of $50 million this year, down from $337 million last year. Meanwhile, the bank served a record number of clients last year, including the most women and Indigenous clients. Taking more risks on underserved entrepreneurs has been a priority for CEO Isabelle Hudon since taking the top job at BDC in 2021. The bank has increased its financing to businesses with credit ratings below BB+ by 19 per cent since 2020.
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