National Bank reports $1.25B Q1 profit, up from $997M a year earlier

National Bank of Canada reported a first-quarter profit of $1.25 billion, up from $997 million a year earlier, helped by its acquisition of Canadian Western Bank.

The bank says the profit amounted to $3.08 per diluted share for the quarter ended Jan. 31, up from $2.78 in the first quarter of 2025.

Revenue totalled $3.89 billion, up from $3.18 billion a year earlier.

National Bank’s provision for credit losses amounted to $244 million for the quarter, down from $254 million a year earlier.

On an adjusted basis, National Bank says it earned $3.25 per diluted share in its latest quarter, up from an adjusted profit of $2.93 a year earlier.

Analysts on average had expected an adjusted profit of $2.99 per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Feb. 25, 2026.