06:50 AM EDT, 08/27/2025 (MT Newswires) -- National Bank (NA.TO) on Wednesday reported mixed earnings in the third quarter as it continues to integrate the Canadian Western Bank acquisition and as provisions for credit losses rose.

For the third quarter, National Bank is reporting net income of $1,065 million, up 3% from $1,033 million in the third quarter of 2024. Diluted earnings per share stood at $2.58 compared to $2.89 in the third quarter of 2024.

Excluding specified items recorded in the third quarters of 2025 and 2024 related to the acquisition of Canadian Western Bank, adjusted net income stood at $1,104 million, up 15% from $960 million in the corresponding quarter of 2024. Adjusted diluted earnings per share stood at $2.68, stable compared to the corresponding quarter of 2024, but below a FactSet forecast of $2.71.

In the Personal and Commercial unit, provisions for credit losses rose $55 million year over year, mainly due to the provisions for credit losses on impaired loans.

Separately, National Bank announced that its Board of Directors has authorized a normal course issuer bid to purchase for cancellation up to 8 million of its common shares, representing approximately 2.04% of its 392,069,258 issued and outstanding common shares as at August 21, 2025.

Board of Directors declared a dividend of $1.18 per common share for the quarter ending October 31, 2025. This dividend is payable on November 1, 2025, to common shareholders of record on September 29, 2025.

"The Bank reported solid third quarter results, reflecting strong revenue fundamentals and credit performance, combined with synergy momentum from the CWB acquisition. With strong capital levels and a disciplined approach to credit and efficiency, we will continue to execute our CWB integration plan while investing in business growth," said Laurent Ferreira , President and Chief Executive Officer.

Shares in National Bank eased $0.13 or 0.1% on the TSX yesterday.