MONTREAL — National Bank of Canada reported a second-quarter profit of $896 million, down slightly from $906 million a year earlier.
The Montreal-based bank says the profit amounted to $2.17 per diluted share for the quarter ended April 30, compared with $2.54 per diluted share a year ago.
The bank says its adjusted profit, which excludes items related to its recent acquisition of Canadian Western Bank, amounted to $2.85 per diluted share, up from an adjusted profit of $2.54 per diluted share a year ago.
Analysts on average had expected an adjusted profit of $2.40 per share, according to LSEG Data & Analytics.
“The bank delivered strong second-quarter results, supported by solid organic growth in our business segments," said chief executive Laurent Ferreira in a statement.
"We were also pleased to complete the acquisition of Canadian Western Bank during the quarter, marking a significant step forward in the acceleration of our domestic strategy."
Revenue for the quarter totalled $3.65 billion, compared with $2.75 billion in the same quarter last year.
National Bank's provisions for credit losses in the quarter amounted to $545 million, up from $138 million last year.
The bank also increased its dividend by four cents to $1.18 per share starting in the third quarter.
This report by The Canadian Press was first published May 28, 2025.
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