National Bank of Canada announced its results for the second quarter ended April 30, 2001. The bank recorded income before goodwill charges of $145 million, or 72 cents per share. That’s up 5.1% from the corresponding quarter of 2000.

The return on common shareholders’ equity before goodwill charges was 16.6%. Operating expenses are down from 66.0% to 62.6% as a percentage of total revenues.

The highlights for the first half of fiscal 2001include a rise in income before goodwill charges. The bank recorded $288 million or $1.43 per share, up 10.8% from the corresponding period of 2000. The return on common shareholders’ equity before goodwill charges of 16.3%. Operating expenses dropped from 65.8% to 62.4% as a percentage of total revenues. The tier 1 capital ratio of 9.1% increased from 7.3% a year earlier.

André Bérard, Chairman of the Board and Chief Executive Officer, says that the National Bank had just posted its best quarter ever despite fairly difficult conditions marked by plummeting stock markets and a generalized economic slowdown. “These results,” Mr. Bérard says “attest to the gigantic strides made by the Bank in recent years particularly in terms of profitability.”

In the second quarter National Bank Discount Brokerage Inc. enhanced its website. The clients of National Bank Discount Brokerage Inc. who trade online are better equipped than ever before when it comes to making their investment decisions, says the bank, thanks to new services added to the company’s InvesNET Web site.

Further to a partnership concluded between Morningstar and National Bank Discount Brokerage, the latter’s clients can now access one of the primary sources of information on mutual funds in Canada. National Bank Discount Brokerage also gives its clients direct access to Advice for Investors, a financial research tool, which provides a host of information on more than 4,500 Canadian companies.