National Bank of Canada Profit Soars on Capital Markets Strength

The National Bank of Canada has reported a significant increase in its third-quarter profit, thanks to robust performances in its capital markets and wealth management segments.

The bank's adjusted net interest income rose to C$1.25 billion in the quarter, compared to C$1.17 billion in the same period last year.

National Bank of Canada's capital markets profit grew 32% from a year ago to C$442 million in the quarter, while its wealth management unit's profit increased by 21% to C$296 million.

The Canadian lender posted an adjusted profit of C$1.36 billion ($980.75 million), or C$3.39 per share, in the three months ended July 31, compared with a profit of C$1.1 billion, or C$2.68 per share, a year ago.