National Bank Reports Lower Q3 2022 Earnings as Provisions Begin to Normalize
National Bank of Canada reported net income of $826 million in Q3 2022, a quarter-over-quarter (QOQ) decline of 7.5%, primarily driven by increased provision for credit losses (PCL) and lower revenue.
National Bank of Canada is a provider of financial services that include banking and investment solutions for individuals and businesses as well as securities brokerage, insurance and wealth management services. Co. operates in three business segments: Personal and Commercial, which encompasses the banking, financing, and investing services; Wealth Management, which comprises investment solutions, trust services, banking services, lending services and other wealth management solutions; and Financial Markets, which encompasses banking services, investment banking services and financial solutions. At Oct 31 2017, Co. had total assets of C$245.83 billion and total deposits of C$156.67 billion.
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