National Bank Hits Record, Extends Lead Over Canadian Rivals

National Bank of Canada closed at a record high after it reported earnings that wowed analysts, widening its lead over the country’s other large lenders in shareholders returns.

National Bank rose 2.3% in Toronto as it posted better profitability in all of its major business lines, save for a 1% drop in wealth management. The Montreal-based lender earned C$2.59 per share on an adjusted basis, which topped the average forecast by 24 Canadian cents.