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National Bank of Canada beats quarterly profit expectations

Published 02/25/2022, 06:45 AM
Updated 02/25/2022, 09:07 AM
© Reuters. FILE PHOTO - The National Bank of Canada logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019. REUTERS/Chris Wattie

TORONTO (Reuters) - National Bank of Canada (OTC:NTIOF) beat analysts' estimates for quarterly profit on Friday, as earnings rose 23% from a year earlier, driven by strength in its wealth management and financial markets units.

Net income excluding one-off items increased to C$2.65 per share in the three months ended Jan. 31, compared with C$2.15 a year earlier. Analysts had expected C$2.23 per share, according to IBES data from Refinitiv.

The bank also announced its Chief Financial Officer Ghislain Parent will move on to a new role and Marie Chantal Gingras, the bank's senior vice president of financial accounting, will replace him.

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