National Bank of Canada 3Q Profit, Revenue Climb

By Adriano Marchese

National Bank of Canada on Wednesday reported higher third-quarter profit, benefiting from a rise in revenue across all of its business segments.

The Canadian commercial bank said earnings per share were 2.36 Canadian dollars ($1.87) for the period ended July 31, up from C$1.66 in the comparable quarter a year ago.

Net income was C$839 million, compared with C$589 million a year ago, while return on common shareholders' equity rose to 21.3% in the period, compared with 17%.

Adjusted earnings were C$2.36 a share. According to FactSet, analysts were expecting C$2.12 a share.

Total revenue rose to C$2.25 billion from C$1.97 billion.

The board maintained its quarterly dividend at C$0.71.

"The continued improvement in the economic environment was conducive to growth, as demonstrated by a sustained increase in our revenues," President and Chief Executive Officer Louis Vachon said.

Write to Adriano Marchese at [e-mail]

(END) Dow Jones Newswires

08-25-21 0710ET