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MONTREAL - National Bank of Canada (OTC:NTIOF) (the "Bank") announced its financial results for the second quarter of 2025, revealing a net income of $896 million, which represents a slight decrease of 1% from $906 million in the same period last year. Diluted earnings per share also declined to $2.17, compared to $2.54 in the second quarter of 2024. However, when excluding specified items such as costs associated with the acquisition of Canadian Western Bank (TSX:CWB), adjusted net income stood at $1,166 million, up from $906 million in the corresponding quarter of 2024. Adjusted diluted earnings per share increased by 12% to $2.85.
For the six-month period ending April 30, 2025, the Bank’s net income totaled $1,893 million, marking a 4% increase from $1,828 million for the same period in 2024. Despite the common shares issued as part of the CWB acquisition, diluted earnings per share decreased to $4.91 from $5.13 for the corresponding period in 2024. Excluding specified items, adjusted net income for the six-month period reached $2,216 million, a 21% increase from the previous year, with adjusted diluted earnings per share rising 13% to $5.78.
Laurent Ferreira, President and Chief Executive Officer of National Bank of Canada, commented on the results: "The Bank delivered strong second quarter results, supported by solid organic growth in our business segments. We were also pleased to complete the acquisition of Canadian Western Bank during the quarter, marking a significant step forward in the acceleration of our domestic strategy and in extending the depth and reach of our banking capabilities for our clients."
"In the context of continued geopolitical and geoeconomic uncertainty, our strong capital position allows us to support business growth," concluded Mr. Ferreira.
The Bank’s financial information reported in this document is based on the unaudited interim condensed consolidated financial statements for the quarter and the six-month period ended April 30, 2025, and is prepared in accordance with International Accounting Standards Board (IASB) guidelines. All amounts are presented in Canadian dollars.
In addition to the financial results, the Bank announced a raise in its quarterly dividend by 4 cents to $1.18 per share.
The Bank’s CET1 capital ratio under Basel III stood at 13.4%, down from 13.7% as at October 31, 2024. The leverage ratio under Basel III was 4.7%, up from 4.4% as at October 31, 2024.
This report is based on a press release statement.
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