National Bank of Canada suffered a 5% drop in its net income in the second quarter of the current fiscal year, which amounted to $847 million (M$), 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 institution reports that adjusted results were identical year over year to net results.
The Personal and Business sector enjoyed growth of 14% in one year, to $335 million, while the Wealth Management sector grew by 9% during the same period, to $178 million. In contrast, the Financial Markets sector fell 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.
Alongside the release of its financial results, National Bank announced that its board of directors has declared regular dividends on the various series of first preferred shares, as well as a dividend of $1.02 per share. ordinary, up 5 cents or 5%, payable next August 1st.