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National Bank of Canada Hikes Dividend Despite Lower Profit in Q4 2022

Industry: Financial Services
Current: Company Performance

National Bank of Canada's overall income decreased in the fourth quarter of 2022 due to lower income in the financial markets
The net interest income of National Bank of Canada decreased significantly to CAD1,207 million in the fourth quarter that ended in October 2022
National Bank of Canada attributed the fall to the significant trading revenue losses on September 26, 2022, during the turbulent markets brought on by a UK budget proposal that resulted in the resignation of then Prime Minister Liz Truss

National Bank of Canada’s Net Interest Income Decreases

National Bank of Canada's overall income decreased in the fourth quarter of 2022 due in part to lower income in the financial markets, even though other areas registered growth.

The net interest income of National Bank of Canada decreased significantly to CAD1, 207 million in the fourth quarter that ended in October 2022 compared to that in the previous quarters, as reported by the bank.

The financial markets' revenue fell for the fourth quarter of 2022 compared to that in the corresponding quarter of 2021 due in part to significant trading revenue losses on September 26, 2022, during the turbulent markets brought on by a UK budget proposal that resulted in the resignation of then Prime Minister Liz Truss.

The payout by National Bank of Canada to stockholders will increase by five cents to 97 cents per share, National Bank of Canada announced.

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