May 29, 2008 / 12:24 PM / 10 years ago

National Bank profit drops 29 percent

TORONTO (Reuters) - Second-quarter profit fell 29 percent at National Bank of Canada (NA.TO) as it took losses to protect its asset-backed commercial paper portfolio, the bank said on Thursday.

    National Bank, the country’s sixth-largest bank, said net income in the February-April quarter was C$165 million ($167 million), or C$1.00 a share. That compared with profit of C$233 million, or C$1.40 a share, a year earlier.

    ($1=$0.99 Canadian)

    Reporting by Frank Pingue; editing by Janet Guttsman

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below