National Bank of Canada today said its fourth-quarter profit rose 8%, boosted by gains in retail banking and wealth management.

Net income was $207 million, or $1.22 a share, in the quarter ended October 31. That was up from $192 million, or $1.11 a share, in the year-before period.

Revenue rose to $931 million from $892 million.

Income from the branch-banking division rose 14% to $112 million, while wealth management profit climbed 17% to $27 million.

However, financial markets income was $50 million, down 21% from the year-before quarter.

Return on equity was 19.4%, down slightly from 19.7%.

For the fourth quarter, National recorded specific provisions for credit losses of $25 million, compared to $27 million for the corresponding quarter in 2004.

The bank also raised its quarterly dividend by 9% to 48 Canadian cents a share.

The bank set a new record for year-end profit in fiscal 2005.

Net income reached $855 million for the year ending Oct. 31, up 18% from last year’s record of $725 million.

The bank’s performance “demonstrates that it continues to grow at a solid pace on the strength of the contribution of all its segments,” said Real Raymond, president and CEO, in a release.