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Research Alert: National Bank Of Canada: Q1 Earnings Beat And Strong Balance Sheet Growth

BY MT Newswires | ECONOMIC | 02/25/26 08:00 AM EST

08:00 AM EST, 02/25/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

National Bank of Canada (NTIOF) reported Q1 FY 26 (Oct.) EPS of CAD3.25 vs. CAD2.93 in the prior year, CAD0.26 above consensus. Total revenues rose 22% to CAD3.9B owing to the CWB consolidation. Net interest income surged 43% to CAD1.4B, while gross impaired loans rose 32 bps to 1.11%; however, PCL fell CAD10M to CAD244M. The CWB acquisition continues to deliver strong results, contributing 20% of P&C revenue growth, while organic loan growth excluding CWB reached 9% and deposits grew 12%. Management increased share buyback authorization to 14.5M shares, signaling confidence in capital strength. We believe NA's healthy balance sheet expansion differentiates it from peers, with personal lending up 17% and commercial lending growing 54%, including both CWB impact and underlying business growth. The strong CET1 ratio of 13.7% provides flexibility for continued growth initiatives, while the successful Laurentian Bank transaction demonstrates strategic expansion capabilities that should support future performance.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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