National Bank of Canada (TSX: NA) reported Q2 2025 financials, with quarterly net income of $896 million, a 1% decline from $906 million a year earlier, as the Canadian Western Bank acquisition and loan-loss provisions tied to it weighed on the bottom line.
Total revenues climbed 33% to $3.65 billion, fueled by higher net interest income and the addition of CWB’s operations. Income before provisions for credit losses and income taxes increased 34% to $1.71 billion from $1.28 billion in the year-ago quarter.
Diluted earnings per share fell 15% to $2.17 from $2.54 in Q2 2024.
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On an adjusted basis—stripping out $118 million of CWB integration charges and $230 million of initial provisions for credit losses on acquired loans—net income rose 29% to $1.17 billion, and adjusted diluted EPS gained 12% to $2.85.
Total provisions for credit losses jumped to $545 million in Q2 2025, up nearly 295% from $138 million in Q2 2024. The increase was driven primarily by an initial $230 million provision on non-impaired loans acquired from CWB.
Across business segments, Personal & Commercial Banking saw revenues of $1.42 billion (+25 % YoY) but net income plunged 58% to $132 million after acquisition-related costs and provisions. Wealth Management posted a 13% jump on net income to $232 million on a 16% climb on revenues to $791 million.
Financial Markets delivered $501 million of net income, a 56% increase, on a 62% revenue surge. US Specialty Finance & International recorded a 4% jump net income to $169 million on revenues of $390 million, which climbed 11%, while the “Other” segment posted a loss of $138 million, largely reflecting CWB integration charges.
Looking ahead, the bank declared a common share dividend of $1.18, up 4 cents from previous period, payable August 1, 2025.
National Bank last traded at $129.36 on the TSX.
Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
