National Bank's Markets-Facing Businesses Drive 3Q Earnings Beat

Dow Jones
08/26

0928 ET - National Bank of Canada achieved another strong quarter, supported by broad growth across its operations. The big lender's 3Q adjusted EPS at C$3.39 was ahead of what analysts expected, a beat Raymond James' Stephen Boland says was driven by strong operating leverage and an in-line quarter for credit. "Results showcased strength across the franchise, although market-sensitive businesses remained the key growth drivers," the analyst says. National Bank's credit-loss provision ratio was 31 basis points, including 28 points of impaired provisions, up modestly on-quarter and in line with management's guidance, Boland says. Adjusted return on equity remains strong at 16.8%, he adds.

 

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