The National Bank of Canada has posted a net income of CAD484m ($358.4m) for the second quarter of 2017, a 130% increase from CAD210m ($155.3) in the previous year.
Diluted earnings per share were CAD1.28 in the quarter ended 30 April 2017, versus CAD0.52 in the corresponding quarter of 2016.
Go deeper with GlobalData
The bank’s net income excluding specified items totalled CAD492m, a 108% surge from CAD237m a year ago. Adjusted diluted earnings per share were CAD1.30 compared to CAD0.60 last year.
The banking group’s total revenues during the quarter were CAD1.59bn, a 12% increase from CAD1.42bn in the previous year.
The bank’s personal and commercial banking arm posted a net income of CAD233m for the second quarter of 2017, as against a net loss of CAD13m in the corresponding quarter of 2016. The unit’s total revenues increased 5% year-on-year to CAD734m.
National Bank president and CEO Louis Vachon said: “Each business segment posted double-digit earnings growth, contributing to the Bank’s excellent performance for the second quarter of 2017.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“Furthermore, the Bank increased its quarterly common share dividend by 2 cents per share or 3.6% to 58 cents per share and continues to strengthen its Common Equity Tier 1 (CET1) capital ratio.”
