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National Bank of Canada’s Profit Rises on Wealth Management and Strong Markets

  • National-Bank of Canada reported a higher third-quarter profit, driven by strong performance in its wealth management and financial markets units.
  • The Canadian-central-bank’s interest rate cuts in June and July have boosted trading and wealth-management activities for the country’s lenders.
  • Net income from National-Bank of Canada’s financial markets unit increased by 55% year-on-year, totaling C$318 million in the third quarter.