National Bank of Canada, the last of Canada’s eight main banks to report quarterly results, said profit climbed 2.4 percent on consumer banking and asset management. The bank increased its dividend for the second time in a year.
National Bank of Canada, the country’s sixth-largest bank, said profit climbed 3.1 percent to a record as it posted higher earnings from consumer banking. The bank was the fourth Canadian lender this quarter to top analyst estimates.
National Bank of Canada is being sued by current and former employees of its Natcan asset management unit who argue that the bank unfairly bought them out at a discount before selling the business to Fiera Sceptre Inc.