National Bank of Canada Reports Strong Q3 Earnings Amid Trade Uncertainty

National Bank of Canada reported strong third-quarter earnings on Wednesday, with EPS rising 26% year-over-year to $3.39 and revenues increasing by 18%. The bank attributed this growth to favorable market conditions across its fee-based businesses and strong balance sheet expansion.

Laurent Ferrera, President and CEO, stated that the Canadian economy has demonstrated resilience over the past 18 months, but unresolved trade conflicts with the US create economic uncertainty. He emphasized National Bank of Canada's commitment to supporting clients and working with governments and businesses to deploy capital towards re-industrialization.

The bank's P&C Banking segment saw a 13% year-over-year net income growth, driven by personal mortgage growth and strong balance sheet expansion. Wealth management and capital markets also reported strong performance, with net income increases of 22% and 32%, respectively.

National Bank of Canada maintained a robust capital position, with a CET1 ratio of 13.51%. The bank plans to complete its current NCIB in September and launch a new one at that time, subject to regulatory approvals.