National Bank of Canada

Latest Results (06.09.2025):

National Bank of Canada reported solid financial results for the third quarter of 2025, demonstrating steady growth in net income and strong performance across its business segments. The bank benefited from the integration of Canadian Western Bank (CWB), which contributed to revenue growth and enhanced its market position.

Net Income Growth

For Q3 2025, National Bank of Canada achieved a net income of $1,065 million, marking a 3% increase compared to $1,033 million in Q3 2024. When adjusting for the acquisition of CWB, net income rose significantly by 15% to $1,104 million.

Revenue Expansion

Total revenues for the quarter reached $1,449 million, a 21% year-over-year increase. This growth was primarily driven by the inclusion of CWB revenues, which contributed $228 million, and a rise in net interest income due to increased loan and deposit volumes.

Adjusted Earnings Per Share

Adjusted diluted earnings per share remained stable at $2.68, despite the overall diluted earnings per share decreasing to $2.58. This stability highlights the underlying profitability of the bank excluding the impacts of the CWB acquisition.

Strong Capital Position

The bank maintained robust capital levels with a Common Equity Tier 1 (CET1) ratio of 13.9% and a leverage ratio of 4.7% as of July 31, 2025. These metrics indicate a solid foundation to support continued growth and strategic initiatives.

Efficient Operations

National Bank of Canada demonstrated efficient operational management with an overall efficiency ratio of 55.6% in Q3 2025, reflecting disciplined cost control and effective resource allocation despite the integration of CWB.