National Bank profit up

National Bank profit up

National Bank of Canada had $566 million of net income in its fourth quarter, up eight per cent from the same period last year as each of its three main business units improved earnings.

The Montreal-based bank says the profit amounted to $1.52 per share on a diluted basis and $1.53 per share after adjustments.

Analysts had estimated $1.52 per share of net income and $1.52 per share of adjusted earnings, according to Thomson Reuters Eikon.

Revenue for the three months ended Oct. 31 was $1.87 billion, slightly above analyst estimates.

During the same period of fiscal 2017, National Bank had $525 million of net income or $1.39 per share and $1.76 billion of revenue.

The bank says its quarterly dividend will rise three cents to 65 cents per common share, payable Feb. 1.

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