National Bank of Canada Profit Falls 48% on Bad Energy Loans

  • Provision for energy leads to loss within banking business
  • Laurentian shares climb as profit beats analysts’ estimates

Safalow: National Bank a Short Target on Energy, Housing

National Bank of Canada said fiscal second-quarter profit fell 48 percent after setting aside more money to cover soured energy loans. The lender raised its quarterly dividend 1.9 percent to 55 cents a share.

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