National Bank posted robust financial results in the second quarter of 2018 with a net income of $547 million, up 13% one year ago from $484 million in the second quarter of 2017, as well as diluted earnings per share of $1.44 compared to $1.28 in the second quarter of 2017.
In the first six months of 2018, the bank's net income totalled $1,097 million, up 12% from $981 million in the same period of 2017, and its diluted earnings per share stood at $2.90 versus $2.62, driven by net income growth across all the business segments.
"The bank delivered excellent results in the second quarter of 2018. Both business growth and improved efficiency were major contributors to this performance," said National Bank's President and Chief Executive Officer Louis Vachon.
Personal and commercial net income reached $213 million in the second quarter of 2018, down 6% from $226 million in the same period 2017. Wealth management net income saw a 23% hike between 2017 and 2018, as it totalled $119 million this year.
Financial markets net income increased 11% to $190 million in the second quarter of 2018, an 11% uptick, and finally, U.S. Specialty Finance and International net income generated $63 million in the second quarter of 2018, a 58% increase from $40 million in the same quarter of 2017.
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National Bank joins the mortgage war
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