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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

The head office of the National Bank of Canada stands in Montreal on April 21, 2017.

Ryan Remiorz

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.

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

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