{"id":498957,"date":"2026-02-25T17:09:08","date_gmt":"2026-02-25T17:09:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/498957\/"},"modified":"2026-02-25T17:09:08","modified_gmt":"2026-02-25T17:09:08","slug":"national-bank-profit-jumps-as-cwb-takeover-drives-higher-revenue-costs","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/498957\/","title":{"rendered":"National Bank profit jumps as CWB takeover drives higher revenue, costs"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

National Bank of Canada reported first-quarter profit of $1.25-billion, up from $997-million the year before.Ryan Remiorz\/The Canadian Press<\/p>\n

National Bank of Canada NA-T<\/a> reported a jump in first-quarter profit that topped analysts\u2019 expectations, bolstered by the lender\u2019s takeover of Canadian Western Bank.<\/p>\n

National Bank earned $1.25-billion, or $3.08 per share, in the three months that ended Jan. 31. That compared with $997-million, or $2.78 per share, in the same quarter last year.<\/p>\n

Adjusted to exclude certain items, including costs related to the acquisition of CWB<\/a>, the bank said it earned $3.25 per share. That beat analysts\u2019 estimates of $2.99, according to data from S&P Capital IQ. <\/p>\n

The bank also said it is boosting the number of shares it is buying back, increasing its repurchase plan to 14.5 million shares, up from its previous announcement of 8 million shares. To date, it has bought back 6.4 million shares.<\/p>\n

\u201cWe are executing on our financial objectives with discipline, driving organic growth and operational efficiency as we reinforce our pan-Canadian reach, and creating long-term value for our shareholders,\u201d National chief executive officer Laurent Ferreira said in a statement. <\/p>\n

National Bank CEO says deal to buy Canadian Western Bank accelerates growth outside Quebec<\/a><\/p>\n

National Bank is the third major Canadian bank to report earnings for the fiscal first quarter. Bank of Montreal BMO-T<\/a> and Bank of Nova Scotia BNS-T<\/a> posted earnings that beat analyst expectations. Royal Bank of Canada RY-T<\/a>, Toronto-Dominion Bank TD-T<\/a> and Canadian Imperial Bank of Commerce CM-T<\/a> will close out the week on Thursday.<\/p>\n

In the quarter, National Bank set aside $244-million in provisions for credit losses \u2013 the funds banks set aside to cover loans that may default. That included $215-million against loans the bank believes may not be repaid, based on models that use economic forecasting to predict future losses.<\/p>\n

In the same quarter last year, National Bank reserved $254-million in provisions. <\/p>\n

Total revenue rose 22 per cent in the quarter to $3.89-billion while expenses increased 22 per cent to $2.01-billion, which the bank said was driven by the CWB takeover and higher variable compensation, salaries and benefits. <\/p>\n

Profit from Canadian personal and commercial banking was $427-million, up 47 per cent from a year earlier, as the lender integrated CWB. <\/p>\n

The wealth management division generated $272-million of profit, up 12 per cent on higher fee-based revenue. <\/p>\n

Profit from the bank\u2019s capital markets arm was up 6 per cent at $443-million, driven by higher corporate and investment banking revenue.<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: National Bank of Canada reported first-quarter profit of $1.25-billion, up from $997-million the…\n","protected":false},"author":2,"featured_media":498958,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[901,888,902,879,877,903,45,49,48,876,895,896,891,878,875,46,549,295,894,887,914,880,881,893,889,890,884,904,885,909,910,912,907,911,905,908,882,898,899,714,897,906,865,61,900,892,886,883,913],"class_list":["post-498957","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-alberta","tag-arts-news","tag-bc","tag-breaking-news","tag-breaking-news-video","tag-british-columbia","tag-business","tag-ca","tag-canada","tag-canada-news","tag-canada-sports","tag-canada-sports-news","tag-canada-trafficcanada-weather","tag-canadian-breaking-news","tag-canadian-news","tag-economy","tag-education","tag-environment","tag-federal-government","tag-foreign-news","tag-globe-and-mail","tag-globe-and-mail-breaking-news","tag-globe-and-mail-canada-news","tag-government","tag-life-news","tag-lifestyle","tag-local-news","tag-manitoba","tag-national-news","tag-new-brunswick","tag-newfoundland-and-labrador","tag-northwest-territories","tag-nova-scotia","tag-nunavut","tag-ontario","tag-pei","tag-photos","tag-political-news","tag-political-opinion","tag-politics","tag-politics-news","tag-quebec","tag-sports-news","tag-technology","tag-travel","tag-trudeau","tag-us-news","tag-world-news","tag-yukon"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/498957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=498957"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/498957\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/498958"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=498957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=498957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=498957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}