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National Bank of Canada beats quarterly profit expectations

FILE PHOTO - The National Bank of Canada logo is seen outside a branch in Ottawa
FILE PHOTO – The National Bank of Canada logo is seen outside a branch in Ottawa, Ontario, Canada, February 14, 2019. REUTERS/Chris Wattie

February 25, 2022

TORONTO (Reuters) – The National Bank of Canada beat analysts’ estimates for quarterly profit on Friday, as earnings rose 23% from a year earlier, helped by the strength of its management units. asset management and financial markets.

Net income excluding one-time purchases rose to C$2.65 per share for the three months ended January 31, compared with C$2.15 a year earlier. According to IBES data from Refinitiv, analysts were expecting C$2.23 per share.

The bank also announced that Chief Financial Officer Ghislain Parent will be moving into a new role and that Marie Chantal Gingras, the bank’s Senior Vice President of Financial Accounting, will be replacing him.

(Reporting by Nichola Saminather in Toronto and Manya Saini in Bengaluru; Editing by Krishna Chandra Eluri)

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Caroline Bleakley

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