National Bank of Canada's profit rises in third quarter

National Bank of Canada reported an increase in the third quarter profit, boosted by its wealth management business and higher income from interest. Its net interest income, the difference between what banks earn on loans and pay on deposits, surged more than 52 per cent to C$1.17 billion ($846.78 million).

- 

With credit conditions improving and most Canadian exports to the United States exempt from tariffs under the United States-Mexico-Canada Agreement (USMCA), banks now expect a softer economic impact as loan demands grow.

The bank's wealth management profit grew 12 per cent to C$244 million in the third quarter.