National Bank of Canada raised its quarterly dividend and reported its second-quarter profit fell compared with a year ago as it faced higher non-interest expenses and increased provisions for bad loans.
The Montreal-based bank said Wednesday it will now pay a quarterly dividend of $1.02 per share, up from 97 cents.
Revenue totalled $2.48 billion in the quarter, up from $2.44 billion in the same quarter last year, while the bank's provisions for credit losses amounted to $85 million, up from $3 million a year earlier. Analysts on average had expected an adjusted profit of $2.40 per share, according to estimates compiled by financial markets data firm Refinitiv.
National Bank said its personal and commercial banking division earned $335 million in its second quarter, up from $293 million a year earlier, helped by revenue growth, offset in part by higher non-interest expenses and higher provisions for credit losses.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Wednesday's GDP data will be key for Bank of Canada rate decision: Strategist - BNN BloombergWith gross domestic product (GDP) figures for the Canadian economy set to be released this week, one strategist said the data could be crucial for the Bank of Canada as it decides whether to raise interest rates or not.
Lire la suite »
StatCan report casts clouds on claims of a widespread labour shortage in Canada - BNN BloombergA new report is casting doubt on the idea that Canada is facing a widespread labour shortage and bolsters the arguments by some labour economists that high job vacancies aren't due to a shortage of workers.
Lire la suite »
Canada's immigration system should prioritize workers from in-demand industries: Expert - BNN BloombergFollowing record-setting immigration figures last year, an immigration lawyer says Canada’s system does not go far enough to fill jobs in high-demand industries.
Lire la suite »
Air Canada, pilots to start bargaining this summer: Union - BNN BloombergAir Canada pilots will soon begin collective bargaining for a new contract, according to their union.
Lire la suite »
Air Canada failing to provide full services in both official languages: report - BNN BloombergThe official languages commissioner says Canadian travellers — particularly francophones — are struggling to get service in their official language of choice from Air Canada.
Lire la suite »