CA - National Bank of Canada (NTIOF) Q2 2024 Earnings Call Transcript
2024-05-29 16:12:09 ET
National Bank of Canada (NTIOF)
Q2 2024 Results Conference Call
May 29, 2024 01:00 PM ET
Company Participants
Marianne Ratte - Vice President & Head, Investor Relations
Laurent Ferreira - President & Chief Executive Officer
Marie Chantal Gingras - Chief Financial Officer
Bill Bonnell - Chief Risk Officer
Lucie Blanchet - Head, Personal Banking & Client Experience
Michael Denham - Head, Commercial & Private Banking
Nancy Paquet - Head of Wealth Management
Étienne Dubuc - Head, Financial Markets
Stéphane Achard - Head of International
Conference Call Participants
Matthew Lee - Canaccord
Meny Grauman - Scotiabank
Lemar Persaud - Cormark Securities
Nigel D'Souza - Veritas Investment Research
Mike Rizvanovic - KBW Research
Sohrab Movahedi - BMO Capital Markets
Doug Young - Desjardins Capital Markets
Paul Holden - CIBC
Presentation
Operator
Good afternoon, and welcome to National Bank of Canada's Second Quarter Results Conference Call.
I would now like to turn the meeting over to Marianne Ratte, Vice President and Head of Investor Relations. Please go ahead, Marianne.
Marianne Ratte
And afternoon, everyone. We will begin the call with remarks from Laurent Ferreira, President and CEO; Marie Chantal Gingras, CFO; and Bill Bonnell, Chief Risk Officer. Also present for the Q&A session are Lucie Blanchet, Head of Personal Banking and Client Experience; Michael Denham, Head of Commercial and Private Banking; Nancy Paquet, Head of Wealth Management; Étienne Dubuc, Head of Financial Markets, also responsible for Credigy; and Stéphane Achard, Head of International, responsible for ABA Bank.
Before we begin, I would like to refer you to Slide 2 of our presentation for information on forward-looking statements and non-GAAP financial measures. The bank uses non-GAAP measures such as adjusted results to assess its performance. Management will be referring to adjusted results unless otherwise noted.
I will now turn the call over to Laurent.
Laurent Ferreira
Merci, Marianne, and thank you, everyone, for joining us. This morning, National Bank reported strong financial results for the second quarter of 2024, with earnings per share of $2.54, up 9% year-over-year and a return on equity of 17%.
This performance reflects the disciplined execution of our strategy across business segments and the diversified earnings power of the bank. Our capital level is strong with a CET1 ratio of 13.2%. This allows us to invest in business growth and to return capital to shareholders through sustainable dividend increases....
National Bank of Canada (NTIOF) Q2 2024 Earnings Call Transcript