National Bank beats profit estimates, helped by lower loan-loss provisions than expected

National Bank beats profit estimates, helped by lower loan-loss provisions than expected

National Bank of Canada reported fourth-quarter profit that beat analyst estimates on Wednesday, helped by lower-than-expected credit provisions.

Net income excluding specific items rose to $615 million in the three months through October, from $612 million, although earnings per share remained flat at $1.69. Analysts had expected $1.52 a share.

Provisions for credit losses of $110 million were lower than the expected $158.4 million. They were up 24 per cent from a year earlier, although improved from $143 million in the previous quarter.

Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today.

Published at Wed, 02 Dec 2020 11:52:19 +0000