The National Bank of Canada has reported a net income of C$307m for the fourth quarter ended 31 October 2016, a 12% decrease compared to C$347m in the corresponding quarter of 2015.
Diluted earnings per share stood at C$0.78 compared to C$0.95 in the prior year.
Go deeper with GlobalData
Excluding specified items, the bank’s adjusted net income increased 11% to C$463m from C$417m the year ago, while adjusted diluted earnings per share was up by 7% to C$1.24 from C$1.16 the year ago.
The banking group’s total revenues stood at C$1.57bn, a rise of 12% from the previous year.
The bank's personal and commercial banking arm reported net income of C$196m in the fourth quarter of fiscal 2016, up 7% from C$183m during the same quarter in 2015
The unit’s total revenues during the period increased 3% year-on-year to C$740m.
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 GlobalDataNational Bank of Canada president and CEO Louis Vachon said: “The bank achieved excellent results in the fourth quarter thanks to strong performance in each business segment. Furthermore, as at October 31, 2016, the Common Equity Tier 1 (CET1) capital ratio stands at 10.1%.
“The bank is continuing its transformation to make the organization even more streamlined and efficient such that it can consistently respond to client requirements with agility.”
