National Bank of Canada (TSX: NA) posted fiscal Q1 2026 net income of $1.25 billion, up from $997.0 million in Q1 2025, as total revenue rose to $3.89 billion from $3.18 billion and the bank lapped a year-ago quarter that still included acquisition-related volatility tied to Canadian Western Bank acquisition.
The revenue build was split between net interest income of $1.39 billion versus $972.0 million and non-interest income of $2.50 billion versus $2.21 billion.
Provisions for credit losses eased to $244.0 million from $254.0 million, leading to pre-tax income jumping to $1.6 4 billion from $1.28 billion.
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Reported diluted EPS increased to $3.08, while ROE slipped to 15.7% from 16.7%, reflecting a bigger earnings base paired with a larger balance sheet and share count.
On an adjusted basis, net income came in at $1.32 billion versus $1.05 billion, translating to an adjusted diluted EPS of $3.25.
Dividends declared rose to $1.24 from $1.14, pushing the dividend payout ratio to 45.1% from 40.1%.
The specified items bridge showed Q1 2026 non-interest expense add-backs of $91.0 million pre-tax, led by $67.0 million of integration and transaction-related charges and $24.0 million of amortization of CWB-related intangibles, partially offset by associated tax impacts of $25.0 million.
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Segment results showed the largest dollar lift in Personal and Commercial, where net income increased to $427.0 million from $290.0 million and revenue rose to $1.53 billion from a year-ago level. Management attributed $237.0 million of that revenue lift to CWB, alongside loan and deposit volume growth.
Wealth Management net income rose to $272.0 million from $242.0 million on revenue of $899.0 million versus $776.0 million. Capital Markets net income also increased to $443.0 million from $417.0 million on revenue of $990.0 million.
US Specialty Finance and International net income was $185.0 million versus $183.0 million, supported by revenue of $434.0 million. The Other segment loss narrowed to $73.0 million from $135.0 million.
Capital and liquidity metrics were mixed. CET1 ticked down to 13.7% from 13.8% and leverage declined to 4.3% from 4.5%, while TLAC ratio improved to 32.5% from 29.7% and LCR rose to 189% from 173%.
National Bank last traded at $177.46 on the TSX.
Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
