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National Bank profit rises 45%

Reuters
8:46 AM, E.T. | February 24, 2011
Canadian, Financials

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Watch: The potential for dividend hikes from Canadian banks

National Bank of Canada (NA-T) said on Thursday its first-quarter profit rose 45 percent, as stronger consumer and business loan growth more than offset a decline in trading income.

National, Canada's No. 6 bank, earned $312 million, or $1.80 a share, in the fiscal first quarter ended January 31. That compared with a profit of $215 million, or $1.22 a share, in the year-before period.

Analysts polled by Thomson Reuters I/B/E/S had expected, on average, a profit of $1.64 a share.

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