National Bank of Canada (TSX: NA) reported its Q2 2026 financials, headlined by a net income of $1.23 billion, up from $896.0 million a year earlier, translating to $3.06 earnings per diluted share.
On an adjusted basis, net income was $1.30 billion, up from $1.17 billion a year earlier, landing at $3.23 diluted EPS was $3.23. Reuters reported that the adjusted EPS figure was $0.10 above analyst expectations.
Total revenue came in at $3.91 billion, up from $3.65 billion a year earlier. Net interest income rose to $1.31 billion from $1.21 billion last year, while non-interest income increased to $2.60 billion from $2.45 billion.
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Non-interest expenses rose to $2.06 billion from $1.94 billion a year earlier. The bank recorded $64.0 million in integration and transaction-related charges during the quarter, including $57.0 million tied to CWB and $7.0 million tied to Laurentian Bank transactions.
Provisions for credit losses fell to $233.0 million from $545.0 million a year earlier, heavily affected by last year’s $230.0 million initial provision on acquired non-impaired CWB loans, compared with a $6.0 million initial provision this quarter tied to acquired Laurentian Bank loans. Adjusted provisions were $227.0 million, down from $315.0 million last year.
Personal and Commercial banking was the clearest beneficiary of the easier credit comparison. The segment’s net income rose to $355.0 million from $132.0 million last year.
Wealth Management’s net income increased to $274.0 million from $232.0 million, while Capital Markets’s net income fell to $488.0 million from $501.0 million.
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US Specialty Finance and International net income rose to $186.0 million from $169.0 million.
The Common Equity Tier 1 ratio was 13.5%, down from 13.8% at fiscal year-end. The Tier 1 capital ratio declined to 14.9% from 15.1%, the total capital ratio fell to 17.0% from 17.3%, and the leverage ratio slipped to 4.3% from 4.5%.
The reported efficiency ratio improved to 52.7% from 53.2%, but the adjusted efficiency ratio weakened to 50.4% from 49.3%.
The board declared a common-share dividend of $1.32, up $0.08, payable August 1 to shareholders of record on June 29.
National Bank of Canada last traded at $212.40 on the TSX.
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