Canada’s largest lenders have raised bonuses across the board to cap off a year when tariff turmoil prompted an influx of activity in capital markets and wealth management, boosting profits at the banks.

Performance-based compensation at Canada’s biggest banks rose 15 per cent on average to a combined total of $27.3-billion this year, up from a 12-per-cent increase in 2024. All of the Big Six banks increased their bonus pools this year, ranging from a 24-per-cent jump at National Bank of Canada NA-T to 13-per-cent increases at Bank of Montreal BMO-T and Royal Bank of Canada RY-T .

“Activity levels are very high and investment banks and other advisory firms are bullish on 2026 and beyond,” said Adam Dean, founder and president of Dean Executive Search. “Our clients have had phenom

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