MONTREAL - National Bank of Canada is reporting $518 million of net income for its third quarter, up eight per cent from last year.
The profit is equal to $1.37 per common share (TSX:NA) of net income or $1.39 per share after excluding certain items.
The Montreal-based company's total revenue was up eight per cent at $1.68 billion.
Net income at its personal and commercial banking arm rose 21 per cent from last year to $240 million while net income from wealth management was up 31 per cent at $106 million.
CEO Louis Vachon says revenue growth and cost controls contributed to National Bank's third-quarter performance.
National Bank continues a trend that began last week, when Royal Bank (TSX:RY) and CIBC (TSX:CM) began the industry's third-quarter earnings season with results that were above analyst estimates.
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