National Bank has reported strong earnings for the first quarter of 2017 with net income of $497 million from $261 million a year earlier, largely due to the write-off of its equity stake in Maple Financial Group.
There was growth in the bank’s key business areas too with personal lending up 6 per cent, largely due to mortgage lending.
Louis Vachon, President and CEO of National Bank said that the bank’s loans portfolio is in good shape: “Our credit quality remains solid and our Common Equity Tier 1 (CET1) capital ratio stood at 10.6 per cent.”
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