National Bank of Canada Q1 2026 Earnings Recap

National Bank of Canada reported robust first-quarter 2026 results, with EPS increasing 11% year-over-year to $3.25, fueled by strong growth across retail and business segments, and significant synergies from the CWB transaction.

Key Takeaways

• Revenues surged 21% year-over-year, with pre-tax pre-provision profit (PTPP) up 23%, reflecting solid organic performance and cost synergies.
• Return on equity improved to 16.6%, while the CET1 ratio remained strong at 13.7%.
• The bank has accelerated its share repurchase program, increasing the buyback target from 8 million to 14.5 million shares pending regulatory approval.
• Wealth Management and P&C Banking segments showed significant growth, with net income increases of 13% and 11% respectively.
• The company is on track to exceed its initial synergy targets from the CWB integration, projecting total synergies of $270 million by fiscal 2026 end.