May 27, 2010 / 9:17 PM / 7 years ago

UPDATE 1-National Bank profit rises on loan volumes

* Q2 EPS C$1.50, vs analyst forecast of C$1.50

* Revenue up 2 percent at C$1.05 billion

* Tier 1 capital ratio 12.6 pct

TORONTO, May 27 (Reuters) - Profit at National Bank of Canada NA.TO rose 8.3 percent in the second quarter, as high loan volumes pushed branch banking revenues higher, overcoming the impact of narrowing interest rate margins, the regional bank said on Thursday.

The Montreal-based bank earned a net C$261 million ($249 million), or C$1.50 a share, in the quarter ended April 30. This compared with a profit of C$241 million, or C$1.41 a share, in the year-before period.

Analysts polled by Thomson Reuters I/B/E/S had expected, on average, a profit of C$1.50 a share, before items.

Revenue rose 2 percent to C$1.05 billion, driven by higher loan volumes to retail customers.

Return on equity was 18 percent, down from 18.5 percent in the year-before quarter, while the company’s Tier 1 capital ratio, a key measure of financial stability, was 12.6 percent, up from 10.6 percent six months earlier.

$1=$1.05 Canadian Reporting by Cameron French; editing by Rob Wilson

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