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The National Bank of Canada logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019. REUTERS/Chris Wattie
National Bank of Canada (NA.TO) beat analysts’ estimates for second-quarter profit on Friday, driven by strength in its financial markets and wealth management units and a fall in funds set aside to cover potential loan losses.
Net income excluding one-off items rose to C$801 million ($662.31 million), or C$2.25 a share, in the three months through April, compared with C$379 million, or C$1.01 a share, a year earlier.
Analysts had expected a figure of C$2 a share, according to IBES data from Refinitiv.
($1 = 1.2094 Canadian dollars)
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