results for the First Quarter of 2022 MONTREAL, Feb. 25, 2022 /CNW Telbec/ - For the first quarter of 2022, National Bank is reporting net income of $932 million compared to $761 million in the first quarter of 2021. First-quarter diluted earnings per share stood at $2.65 compared to $2.15 in the first quarter of 2021. This growth was driven by year-over-year increases in the first-quarter total revenues of all the business segments, by reversals of allowances for credit losses on non-impaired loans given improvements in the macroeconomic outlook and in credit conditions, and by a reduction in provisions for credit losses on impaired loans. Income before provisions for credit losses and income taxes totalled $1,189 million in the first quarter of 2022 compared to $1,044 million in the first quarter of 2021, a 14% increase arising from good performance across all of the business segments.
"The Bank is entering fiscal 2022 on a positive note thanks to excellent performance by its business segments, strong regulatory capital, and adequate allowances for credit losses," said Laurent Ferreira, President and Chief Executive Officer of National Bank of Canada. "Solid revenue growth helped the Bank achieve a high return on equity in the first quarter," added Mr. Ferreira.
https://www.newswire.ca/en/releases/archive/February2022/25/c5472.html