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National Bank reports $997M Q1 profit, up from $922M a year earlier

Bloomberg
26 Feb

MONTREAL — National Bank of Canada reported a first-quarter profit of $997 million, up from $922 million a year earlier.

The Montreal-based bank says the profit amounted to $2.78 per diluted share for the quarter ended Jan. 31, up from $2.59 per diluted share a year ago.

Revenue for the quarter totalled $3.18 billion, up from $2.71 billion in the same quarter last year.

National Bank’s provisions for credit losses in the quarter amounted to $254 million, up from $120 million.

The bank says its adjusted profit, which excludes items related to its acquisition of Canadian Western Bank, amounted to $2.93 per diluted share, up from an adjusted profit of $2.59 per diluted share a year ago.

Analysts on average had expected an adjusted profit of $2.65 per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Feb. 26, 2025.

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