The Montreal-based bank reported first-quarter net income of $1.25 billion, up 26 per cent from a year earlier and about 3 per cent above analyst expectations compiled by Visible Alpha. (The Logic)

Talking point: The lender’s acquisition of Canada Western Bank in February 2025 helped lift its Canadian personal and commercial banking profit 47 per cent year over year, to $427 million. Its wealth management business earned $272 million, up 12 per cent on higher fee-based revenue. National also raised its 2026 return on equity target to 16 per cent from 15 per cent and said it is confident it can reach 17 per cent or more in 2027. Jefferies analyst John Aiken called the quarter’s performance “impressive” in a note to clients. The bank also said it will expand its share buyback program to 14.5 million shares, up from the 8 million previously announced. In the quarter, National Bank set aside $244 million in provisions for credit losses, 4 per cent lower than the same period last year.

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