National Bank of Canada profit falls 32% on loan loss provisions
TORONTO (Reuters) - National Bank of Canada <NA.TO> reported a 32% fall in quarterly profit on Tuesday, as it set aside C$504 million ($365.46 million) to cover expected loan losses caused by the coronavirus outbreak.
Net income fell to C$379 million, or C$1.01 per share, in the second quarter ended April 30, from C$558 million, or C$1.51 per share, a year earlier.
(Reporting by C Nivedita in Bengaluru; Editing by Aditya Soni)