April 16th, 2024

National Bank reports $922M Q1 profit, up from $876M a year ago

By The Canadian Press on February 28, 2024.

MONTREAL – National Bank of Canada reported a first-quarter profit of $922 million, up from $876 million a year earlier, as its revenue rose across its business.

The Montreal-based bank says the profit amounted to $2.59 per diluted share for the quarter ended Jan. 31, up from $2.47 per diluted share a year earlier.

Revenue for the quarter totalled $2.71 billion, up from $2.56 billion in the same quarter last year.

National Bank’s provisions for credit losses totalled $120 million, up from $86 million a year earlier.

On an adjusted basis, the bank says it earned $2.59 per diluted share for its most recent quarter, up from an adjusted profit of $2.54 per diluted share in its first quarter last year.

The average analyst estimate had been for a profit of $2.36 per share, according to estimates compiled by financial markets data firm Refinitiv.

This report by The Canadian Press was first published Feb. 28, 2024.

Companies in this story: (TSX:NA)

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