National Bank Mortgage Lending Expands

The earnings for the National Bank has been described to have come off strong for the first quarter of this year, with $497 million being the net income, compared to $261 a year back.

The write-off of its equity stake in Maple Financial Group is mostly the reason behind such report.

The most focal business areas of the bank has also seen increase and expansion, with personal lending increased by 6 per cent, as a result of mortgage lending.

The President and CEO of National Bank, Louis Vachon said that the loans portfolio of the bank is in a tangible and proper state. Vachon said; “Our credit quality remains solid and our Common Equity Tier 1 (CET1) capital ratio stood at 10.6 per cent.”