National Bank Mortgage Portfolio Hits Record $89 Billion
National Bank of Canada has achieved its strongest quarterly performance in history for mortgage financing. The bank's residential mortgage portfolio rose to $89 billion at the end of the third quarter of fiscal year 2026, a 14% increase compared to about $78.1 billion a year earlier.
The bank's growth is driven by increased branch activity and its growing reliance on the mortgage broker channel. Mortgage brokers have become an increasingly important part of National Bank's strategy to expand its customer base, alongside the traditional branch network.
The Ontario market stands out particularly within this strategy, as the bank seeks to expand its presence beyond its traditional base in Quebec towards other markets. The acquisition of Canadian Western Bank gives the bank a broader base in Western Canada, while its relationship with First National provides additional opportunities to access the mortgage market through distribution channels and brokers.
The bank notes that the third quarter is usually strong in Quebec due to increased residential mobility around July 1, but the current performance exceeded the seasonal effect and showed actual gains in market share. Insured mortgages rose by 8% in just three months, while growth in Ontario exceeded 9%.