National Bank of Canada

on Wednesday reported higher fourth-quarter profits in its capital markets and wealth management business streams to top analysts’ earnings expectations.

Its net income for the three months ending Oct. 31 was $1.06 billion, up 11 per cent from the same period a year ago, resulting in net earnings per share of $2.57.

Its adjusted net income — which removes the impact of non-recurring items — was $1.16 billion, up 25 per cent from $928 million last year, resulting in adjusted earnings per share of $2.82, which topped analysts’ expectations of about $2.62 per share.

National Bank also said it’s increasing its quarterly dividend by six cents to $1.24 per common share for the quarter ending Jan. 31, 2026

For the fiscal year that ended Oct. 31, the Montreal-based lender said net income totalled $4.01 billion, up five per cent from fiscal 2024, while its adjusted net income totalled $4.47 billion, up 21 per cent.

National Bank completed the acquisition of

Canadian Western Bank

in the current fiscal year and plans to

complete its purchase

of Laurentian Bank of Canada’s retail and small business banking operations next year.

Chief executive Laurent Ferreira said the bank met all its medium-term financial objectives in 2025 and also completed the “largest acquisition” in its history.

“With our strengthened national presence, diversified business mix, strong capital ratios and prudent credit profile, we are well-positioned to generate continued growth and superior returns in what will remain a complex macro-environment,” he said in a statement on Wednesday.

The bank’s net income in its Capital Markets segment was $432 million in the fourth quarter, which was up 41 per cent compared to the same quarter last year. Its Wealth Management segment had net income of $258 million, up 18 per cent from last year.

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Its personal and commercial segment reported a net income of $319 million, down two per cent compared to a year ago. The increase in the segment’s revenue was offset by higher non-interest expenses and provisions for credit losses — money that banks keep aside to tackle potentially bad loans.

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