National Bank Steadies as Earnings Soar, Laurentian Deal Looms

Shares of National Bank of Canada are trading in a relatively steady range as investors digest strong Q3 2026 earnings and the bank's role in Laurentian Bank's strategic split sale.

The bank reported one of the strongest profit trends among Canadian banks, with adjusted earnings per share rising 26 percent year over year and an adjusted return on equity of 16.8 percent for the quarter ended in mid-2026.

National Bank will absorb Laurentian's retail and small-business accounts by late 2026, positioning it to expand its customer base and deposits without a full bank acquisition.

The deal limits balance-sheet risk as National Bank focuses on client relationships and account migration rather than purchasing Laurentian's equity outright.