National Bank Posts Record Q3 Profit Amid Resilient Canadian Economy
National Bank of Canada reported its third-quarter profit rose more than 20% compared to last year, driven by strong performance across its business. The Montreal-based bank earned $1.31 billion or $3.25 per diluted share for the quarter ended July 31, up from $1.07 billion or $2.58 per diluted share a year earlier.
Revenue for the quarter totaled $4.05 billion, an increase from $3.45 billion in the same period last year. National Bank's provision for credit losses amounted to $246 million compared to $203 million in the same quarter last year.
The bank's chief executive, Laurent Ferreira, said that despite trade and geopolitical uncertainty, Canada's resilience is creating opportunities for growth. He emphasized the bank's focus on supporting clients and advancing economic priorities to create long-term value for stakeholders.