National Bank Of Canada Q2 Profit More Than Doubles - Quick Facts

National Bank of Canada (NA.TO) reported Friday that second-quarter net income more than doubled to C$801 million or C$2.25 per share from C$379 million or C$1.01 per share in the prior-year quarter.

This strong growth was driven by increases in total revenues across most business segments and by a substantial reduction in provisions for credit losses.

On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of C$2.00 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter grew 10 percent to C$2.24 billion from C$2.04 billion in the same quarter last year. Analysts expected revenues of C$2.19 billion for the quarter.

The bank's Board of Directors also declared regular dividends on the various series of first preferred shares and a dividend of C$0.71 per common share, payable on August 1, 2021 to shareholders of record on June 28, 2021.

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