National Bank of Canada reported on Thursday that its profit for the first quarter ended January 31 rose 14%.

Canada’s sixth-largest bank attributed the increase to lower loan loss provisions and a strong performance of its personal and commercial banking business.

Quarterly profit climbed to $166 million, or 88¢ a share, up from $146 million, or 73¢ a share, in the prior-year period.

The bank said loan loss provisions stood at $41 million in the first quarter, compared with $245 million last year.

Revenues rose to $835 million from $762 million, while return on equity was 17.6% compared with 15% a year ago.

The bank said net income for the Personal and Commercial segment jumped 32%.