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BMLP - Dorsey Wright MLP Index ETN Due 10 Dec 2036 News Story

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Position in Universe th / 6854

UPDATE 1-Canada's National Bank profit beats as financial markets, wealth management units shine

(Adds estimates, details from release)
    Feb 27 (Reuters) - National Bank of Canada  NA.TO  on
Thursday beat estimates for quarterly profit, helped by growth
in its financial markets and wealth management units.
     The lender's strong results mirror those of Royal Bank of
Canada  RY.TO , Bank of Montreal  BMO.TO , Canadian Imperial
Bank of Commerce  CM.TO  and Scotiabank  BNS.TO , which have
benefited from strength in their capital markets business.
    Net income rose 10% to C$135 million at its wealth
management business, boosted by higher fee-based revenues. 
    Canada's sixth-largest lender said net income from its
financial markets unit jumped 10%, helped by stronger revenue
from the global markets segment.
    The bank's personal and commercial banking unit posted a 4%
rise, partly aided by strength in mortgage and commercial
lending.
    Net income rose to C$610 million  ($459.13 million), or
C$1.67 per share, in the first quarter ended Jan. 31, from C$552
million, or C$1.50 per share, a year earlier.
    Excluding one-time items, the lender earned C$1.70 per
share, topping analysts' expectations for a profit of C$1.66 per
share, according to IBES data from Refinitiv.
    

($1 = 1.3286 Canadian dollars)

 (Reporting by Abhishek Manikandan and C Nivedita in Bengaluru;
Editing by Devika Syamnath)
 ((C.Nivedita@thomsonreuters.com; within the U.S. +1 646 223
8780, outside the U.S. +91 80 6749 9246;))

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