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Shareholders approved plan to spin off asset management business

Retail fund sales remained positive as customers sought cash-equivalent products

  • By: IE Staff
  • November 9, 2022 November 9, 2022
  • 12:12
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Interest and insurance revenue rose, corporate finance revenue dropped, fee revenue remained flat

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Results reflect impacts of Hurricane Ian, market volatility

  • By: IE Staff
  • November 3, 2022 November 3, 2022
  • 15:44

Insurance sales in Canada were up 28%

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Corporate profits tend to forecast economic downturns

The wealth management division saw a 15% income dip

The bank set aside $351 million in the quarter for potential loan losses

In wealth management, volatility weighs on near-term growth, report to shareholders says

National Bank of Canada in Toronto’s financial district; National Bank of Canada is sixth largest commercial bank in Canada.

The bank's wealth management business earned $181 million, up 10% from $164 million a year ago