May 26, 2020 / 8:13 PM / a month ago

National Bank of Canada profit falls 32% on loan loss provisions

FILE PHOTO: The National Bank of Canada logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019. REUTERS/Chris Wattie

TORONTO (Reuters) - National Bank of Canada (NA.TO) reported a 32% fall in quarterly profit on Tuesday, as it set aside C$504 million ($365.46 million) to cover expected loan losses caused by the coronavirus outbreak.

Net income fell to C$379 million, or C$1.01 per share, in the second quarter ended April 30, from C$558 million, or C$1.51 per share, a year earlier.

Reporting by C Nivedita in Bengaluru; Editing by Aditya Soni

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