REFILE-National Bank of Canada second-quarter profit hit by loan losses

Wed Jun 1, 2016 8:04am EDT
 
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(Corrects dateline to June 1 from May 31)

TORONTO, June 1 (Reuters) - National Bank of Canada reported a sharp drop in net income in the second quarter after setting aside funds to cover loans to oil & gas companies that had turned sour.

Canada's sixth-largest bank reported net income of C$210 million ($161 million) in the quarter ended April 30, down from C$404 million in the same period the previous year. Earnings per share fell to C$0.52 from C$1.13 the year before.

($1 = 1.3075 Canadian dollars) (Reporting by Matt Scuffham, editing by David Evans)