Diluted earnings per share increased over the same period from $2.53 to $2.38. (photo: The Canadian Press)
The National Bank of Canada suffered a 5% decline in net income in the second quarter of the current fiscal year, which amounted to $847 million ($1 million), compared to $889 million in the second quarter of 2022.
Diluted earnings per share increased over the same period from $2.53 to $2.38.
The Montreal-based firm reported that adjusted results were identical year-over-year to net results.
To (re)read: National Bank a defensive option?
The individuals and business sector grew by 14% in one year to reach $335 million, while the wealth management sector grew by 9% during the same period to reach $178 million. On the other hand, the financial markets sector decreased by 7%, to $268 million.
National Bank of Canada President and CEO Laurent Ferreira believes that high levels of capital and liquidity and prudent levels of credit loss provisions will continue to support profitable growth and help weather any period of uncertainty.
Along with announcing its financial results, the National Bank announced that its board of directors has declared regular dividends on various series of first preference shares, in addition to a dividend of $1.02 per share. Normal, up 5 cents or 5%, you pay afterward. August 1st.
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