National Bank of Canada Beats Profit Estimates
National Bank of Canada beat quarterly profit estimates as strong performances in capital markets and wealth management drove earnings higher. Lower loan loss provisions also supported results despite ongoing trade tensions.
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National Bank of Canada posted an adjusted profit of C$1.36 billion ($980.75 million) for the quarter ended July 31, beating analyst estimates. The quarterly performance reflects strong gains across capital markets and wealth management operations in Canada. The results follow a similar earnings beat by peer Bank of Nova Scotia earlier in the week.
