(November 30 – 11:15 ET) – National Bank of Canada announced its results for the fourth quarter and year, ending on Oct. 31, 2000.

For the fourth quarter ended October 31, 2000, the National Bank reported income before goodwill charges of $138 million or 68 cents per share, up from $115 million of 59 cents per share for the same period of fiscal 1999. Return on common shareholders’ equity before goodwill charges was 15.8% for the quarter, compared to 15.1% for the corresponding quarter of fiscal 1999.

For fiscal 2000, income before goodwill charges surpassed the half-billion dollar mark to reach $531 million or $2.66 per share, up 24% from $428 million or $2.30 per share for fiscal 1999. Return on common shareholders’ equity was 16% for the year as
against 15.5% for fiscal 1999.

The fourth quarter was notable for many initiatives that illustrate the National Bank’s commitment to developing and strengthening its ties with clients. They include measures taken to further develop electronic distribution networks, the launch of a new advertising campaign which focuses on the quality of the Bank’s relationship with its clients, and the introduction of new products.
-IE Staff