National Bank net income declines

Author

Jay Lutz
May 31, 2023

Sponsored by Trillion Energy

National Bank continues trend among big six

National Bank of Canada (TSX: NA) continued the trend started by the Canadian big banks in the Q2 2023 earnings season. The bank reported $847 million in net income, down from last year’s $889 million.

The bottomline figure translates to $2.38 earnings per share, down from $2.53 per share in the comparable period last year but beating the consensus estimate of $2.36 per share.

“Our defensive posture with strong capital and liquidity positions and prudent levels of allowances for credit losses will continue to support profitable growth and help us navigate the uncertainty that may lie ahead,” said CEO Laurent Ferreira.

You can read more on the matter here.

Trillion Energy is focused on natural gas production for Europe and Turkey with natural gas assets in Turkiye. The company is 49% owner of the SASB natural gas field, one of the Black Sea’s first natural gas development projects; and holds a 19.6% (except three wells with 9.8%) interest in the Cendere oil field onshore in Turkiye.

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FULL DISCLOSURE: Trillion Energy is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Trillion Energy. The author has been compensated to cover Trillion Energy on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.