National Bank Beats Expectations with Strong Third-Quarter Earnings

National Bank of Canada reported its third-quarter earnings, beating analysts' expectations. Net income for the three months ending July 31 was $1.30 billion, up 23 per cent from $1.06 billion during the same quarter last year.

The bank's adjusted net income, which removes the impact of non-recurring items, was $1.36 billion, compared to $1.10 billion last year. This resulted in adjusted earnings per share of $3.39, beating analysts' expectations of about $3.21.

National Bank's chief executive Laurent Ferreira said in a statement that the bank 'delivered strong earnings and revenue growth.' He added that Canada's resilience and economic retooling are creating opportunities for growth.