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National Bank of Canada beats profit estimates on financial markets strength

National Bank of Canada beats profit estimates on financial markets strength

(Reuters) – National Bank of Canada beat analysts’ estimates for first-quarter profit on Wednesday, as it set aside less capital to cover its loan losses and as earnings from its financial markets unit surpassed pre-pandemic levels.

Net income excluding one-off items rose to C$761 million ($605.41 million), or C$2.15 a share, in the three months through January, compared with C$620 billion, or C$1.70 a share, a year earlier. Analysts had expected C$1.71 a share, according to IBES data from Refinitiv.

 

 

(Reporting By Nichola Saminather and Sohini Podder; Editing by Amy Caren Daniel)

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Harry Miller is a writer and editor based in Toronto with 14 years of experience in the journalism industry. Before joining Canada News Media as a National Online Journalist, Miller worked as a senior writer and a reporter-editor with the Canadian Press and as a breaking news reporter with the Toronto Star. At Canada News Media he covers national news and the trending stories Canadians are searching for. Miller holds two bachelor's degrees, one in journalism from Ryerson University and another in communications and film studies from Carleton University.

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