National Bank of Canada (NA.TO) reported that its net income attributable to the Bank's shareholders for the third quarter of 2014 increased to C$423 million from the prior year's C$387 million. Earnings per share were C$1.24, up 7% from C$1.16 in the same quarter of 2013.
Excluding specified items, earnings per share stood at C$1.20, a 12% increase from C$1.07 in the same quarter of 2013.
Total revenues for the quarter rose to C$1.460 billion from C$1.285 billion in the year ago quarter.
"National Bank's third-quarter results have shown steady year-over-year growth across all business segments, particularly in the Wealth Management and Financial Markets segments. Furthermore, the Personal and Commercial segment achieved sustained growth in loan volume, and our credit portfolio continues to be of excellent quality," said Louis Vachon, President and Chief Executive Officer.
Analysts polled by Thomson Reuters expected the company to report earnings of C$1.11 per share and revenues of C$1.38 billion for the quarter. Analysts' estimates typically exclude special items.
National Bank of Canada's Board of Directors declares today a dividend on its common shares of C$0.48 per common share for the quarter ending October 31, 2014. This dividend will be payable on November 1st, 2014 to holders of record of common shares on September 25, 2014.
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