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National Bank of Canada (NACN: A3 pos/BBB+/A+): 2Q24 Results

CREDIT RESEARCH

Solid results driven by all 4 business segments. Net Income $906m was up 9% yoy.

  • CET1 13.2% up 10bps from 1Q24
  • Loan Loss provision $138m up from $85m yoy
  • ROE 16.9%
  • Net Revenue $2,837m +2.4% ahead of consensus
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Solid results driven by all 4 business segments. Net Income $906m was up 9% yoy.

  • CET1 13.2% up 10bps from 1Q24
  • Loan Loss provision $138m up from $85m yoy
  • ROE 16.9%
  • Net Revenue $2,837m +2.4% ahead of consensus