AI news brief
Canada withstands tariff upheaval, says National Bank CEO, as quarterly earnings beat expectations
Globe and Mail - Business - 2026-08-26
AI Summary
National Bank of Canada reported third-quarter earnings that surpassed analyst expectations, with net income climbing 23% to $1.31 billion, driven by strong performance in capital markets. CEO Laurent Ferreira acknowledged ongoing tariff uncertainty between Canada and the U.S. will impact businesses and consumers, but expressed confidence in the domestic market's resilience. The bank increased its provisions for credit losses, particularly in its international specialty financing business, as impaired loans rose year-over-year.
Key takeaways
- National Bank's Q3 earnings beat expectations, with net income up 23%.
- CEO notes tariff uncertainty but sees resilience in Canadian market.
- Provisions for credit losses increased, driven by international segment.
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