August 28, 2019 / 11:03 AM / in a year

UPDATE 1-National Bank of Canada profit beats on growth across businesses

(Adds details from release)

TORONTO, Aug 28 (Reuters) - National Bank of Canada reported quarterly profit above analysts’ expectations on Wednesday, helped by growth across all its businesses, including personal and commercial lending.

Net income rose about 11% to C$277 million in its personal and commercial banking unit and 5% to C$126 million in its wealth management business.

Overall net income rose to C$608 million ($458.00 million), or C$1.66 per share, in the third quarter ended July 31 from C$569 million, or C$1.52 per share, a year earlier.

Excluding one-time items, the bank, which is Canada’s sixth largest lender, earned C$1.66 per share. Analysts on average had expected a profit of C$1.59 per share, according to IBES data from Refinitiv. ($1 = 1.3275 Canadian dollars) (Reporting by C Nivedita in Bengaluru; Editing by Anil D’Silva)

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