October 27, 2016 / 12:17 PM / a year ago

BRIEF-National Bank expects to take a charge of about $175 mln in Q4

Oct 27 (Reuters) - National Bank Of Canada:

* National Bank announces a restructuring charge and write-offs of intangible assets in Q4 2016

* National Bank of Canada - expects to take a charge in its fiscal 2016 Q4 earnings relating to certain restructuring initiatives

* National Bank of Canada - expects to take a charge in its fiscal 2016 Q4 totalling approximately $175 million, or $128 million after tax ($0.38 per share)

* National Bank of Canada - restructuring charge includes employee severance payments and premises optimization

* National Bank of Canada - expects to realize approximately $120 million in annual pre-tax recurring savings.

* National Bank of Canada - estimates that its cet1 ratio will be approximately 10.0% as at October 31, 2016.

* National Bank of Canada - as a result of restructuring measures, just over 600 employee departures are expected

* National Bank of Canada - expects to increase proportion of its employees in knowledge-intensive sectors over coming years. Source text for Eikon: Further company coverage:

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