Solid Results for National Bank as Profits Increase and Expenses Remain Well Controlled
Narrow-moat National Bank of Canada’s fiscal third-quarter results were in line with our projections and do not alter our long-term view of the firm. We are maintaining our CAD 56 fair value estimate.Third-quarter adjusted net income was up 8% year over year, and adjusted return on equity remained above 18%. National Bank improved both noninterest income and interest income, and expenses were up only slightly, as the efficiency ratio came in at 55.4%, the lowest level in the past three years. W...
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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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