National Bank of Canada's profit rises on stronger wealth management, interest income (updated)

National Bank of Canada

27/05/2026 12:25

Adds details and context throughout
May 27 (Reuters) - National Bank of Canada NA.TO reported a rise in second-quarter profit on Wednesday, helped by strong growth in its wealth management business and income from interest payments. 
Canadian banks have increasingly leaned on higher-margin businesses such as wealth management, betting on strong inflows from clients and recurring fees to support earnings growth.
National Bank's wealth management unit's profit rose 18% to C$274 million in the quarter. 
A series of rate cuts last year helped Canadian banks lower deposit costs and support loan demand, keeping borrowing broadly steady during the quarter despite macroeconomic pressures.
This helped lift net interest income - the difference between what the bank earns on loans and pays out on deposits - to C$1.31 billion from C$1.21 billion a year earlier.
The Canadian lender posted an adjusted profit of C$1.30 billion  ($939.78 million), or C$3.23 per share, in the three months ended April 30, compared with a profit of C$1.17 billion, or C$2.85 per share, a year ago.




($1 = 1.3833 Canadian dollars)

 (Reporting by Pragyan Kalita in Bengaluru; Editing by Sahal Muhammed)
 ((Pragyan.Kalita@thomsonreuters.com;))