The National Bank of Canada reported a significant increase in its first-quarter profits, with adjusted earnings per share (EPS) of C$2.59, surpassing the estimated C$2.35. The bank's adjusted return on equity (RoE) also exceeded expectations at +17.1%, compared to the forecasted 15.7%. This performance was attributed to the strength of its financial markets unit. Following the announcement, shares of the National Bank of Canada reached a record intraday high, indicating a positive response from the market. Other major Canadian banks, including the Royal Bank of Canada (RBC), Canadian Imperial Bank of Commerce (CIBC), and Toronto-Dominion Bank (TD), also reported their earnings, showcasing a mixed financial landscape. While RBC and National Bank reported higher profits, CIBC and TD had varied results, with CIBC beating profit estimates due to a stronger domestic performance and TD experiencing a decrease in profit due to higher loan loss provisions. However, TD still managed to beat analysts' estimates with its first-quarter profit, driven by strength in its capital markets unit and growth in loans and deposits in its domestic retail business.
Higher trading revenue gave Canada’s big banks a boost during a quarter that was largely dominated by larger loan-loss provisions and growing credit stress https://t.co/eNoSsIzscx
CIBC, TD beat profit estimates on solid home performance https://t.co/0AlWL1PJnp https://t.co/jjTRXl3KX2
$TD (+1.9% pre) TD Bank Earnings Beat Estimates on Strength in Capital Markets Unit https://t.co/05DCi5OLlI
$CM (+1.5% pre) CIBC Earnings Helped by Domestic Business as Provisions Miss https://t.co/05tflG7myJ
Canadian Imperial Bank of Commerce exceeded estimates for first-quarter profit on Thursday, while TD Bank Group reported a fall in first-quarter profit. READ MORE: https://t.co/gfO0dsJhzW https://t.co/gfO0dsJhzW
Canada's TD Bank posts lower profit on higher loan loss provisions https://t.co/TtcahnRshn https://t.co/MlIqBLmGVl
TD tops analysts’ estimates with first-quarter profit https://t.co/vuWbrizDwi
TD Bank Group reports $2.82-billion first-quarter profit, revenue up https://t.co/A1QXEX6zRe
Toronto-Dominion Bank beat analysts’ estimates on an increase in revenue driven by strength in both its capital-markets unit and growth in loans and deposits in the lender’s domestic retail business https://t.co/zlsj7Kcdme
CIBC posts decline in first-quarter profit https://t.co/zTsqvmtxSu https://t.co/tkDn0fUqny
CIBC’s first-quarter profit beats forecasts on stronger domestic performance https://t.co/bgEUBiC0Wa
CIBC benefited from growth in its domestic retail business even as it set aside more money than analysts expected for potentially sour loans https://t.co/hZMUYXWMRT
Shares of National Bank of Canada touched a record intraday high after the lender reported fiscal first-quarter earnings that wowed analysts https://t.co/37RhY2XtDu
A breakdown of the big Canadian banks’ first-quarter earnings so far https://t.co/iBBrJ6XN3A
RBC, National Bank report higher profits. What to know https://t.co/DmoydmZ9LM https://t.co/3Pz9kNzTLj
Royal Bank of Canada and National Bank of Canada were the latest big banks to report earnings on Wednesday. Here is what their reports show. READ MORE: https://t.co/YUTNAHMnzd https://t.co/YUTNAHMnzd
National Bank of Canada quarterly profit rises on financial markets unit strength https://t.co/gtecrdNdsu https://t.co/3WUPheKVOi
National Bank reports higher first-quarter earnings, beats estimates https://t.co/bH0GYCWS1o
National Bank reports higher first-quarter profit on financial markets unit strength https://t.co/dzwsSquucT
National Bank Of Canada Q1 24: - Adj EPS C$2.59 (est C$2.35) - Adj RoE +17.1% (est 15.7%)