National Bank of Canada Sees Profit Growth Fueled by Wealth Management and Strong Financial Markets

The National Bank of Canada reported a significant profit increase for the third quarter, with adjusted earnings rising to C$960 million ($713.12 million) or C$2.68 per share, up from C$781 million and C$2.50 per share a year prior. This growth was driven by strong performances in its wealth management and financial markets divisions, with wealth management profits increasing by 15% to C$205 million. Although the personal and commercial segment saw a slight drop in net income to C$311 million, the bank’s overall performance benefited from a stable home lending business and strong revenue in financial markets, reflecting resilience in a fluctuating economy.

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