National Bank profit rises on Canadian Western Bank deal
National Bank reported a C$1.32 billion profit, beating estimates. The acquisition of Canadian Western Bank and wealth management gains drove quarterly growth.
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National Bank of Canada[Symbol:{\"assets\":{\"symbol\":\"NA.TO\"}}] reported a significant increase in its first-quarter profit on Wednesday, largely attributed to the successful integration of Canadian Western Bank. The lender reported an adjusted profit of C$1.32 billion, equivalent to C$3.25 per share, for the period ending January 31. This result marks a notable rise from the C$1.05 billion, or C$2.93 per share, reported a year earlier.
Analysts had expected an adjusted profit of C$2.99 per share, according to data compiled by LSEG.
