MONTREAL, Dec. 10,
2024 /CNW/ - National Bank of Canada (TSX: NA) today released a
revision to its Supplementary Financial Information for the fiscal
years ended October 31, 2024 and 2023
and related quarters.
Effective November 1, 2024 the
Bank is discontinuing the presentation of revenues on a taxable
equivalent basis ("TEB").
The TEB presentation is less relevant following the introduction
of the Pillar 2 rules (global minimum tax) in the first quarter of
2025 and of Bill C-59 regarding the taxation of certain Canadian
dividends earlier in 2024. This change has no impact on Net income
previously reported. The information for the fiscal years ended
October 31, 2024 and 2023 and related
quarters has been adjusted to reflect the change.
The revised Supplementary Financial Information is available on
the Bank's Investor Relations page
at https://www.nbc.ca/en/about-us/investors/investor-relations/quarterly-results.html
Caution Regarding Forward-Looking
Statements
Certain statements in this press release are forward-looking
statements. These statements are based on a number of assumptions
and are subject to risk factors, inherent risks and uncertainties,
many of which are beyond the Bank's control and the impacts of
which are difficult to predict. Except as required by law, National
Bank does not undertake to update any forward-looking statements,
whether written or oral, that may be made from time to time, by it
or on its behalf. The forward-looking information contained in this
press release is presented for the purpose of interpreting the
information contained herein and may not be appropriate for other
purposes.
About National Bank of Canada
With $462 billion in
assets as at October 31, 2024, National Bank of Canada is one of Canada's six systemically important banks. The
Bank has approximately 30,000 employees in knowledge-intensive
positions and operates through three business segments in
Canada: Personal and Commercial
Banking, Wealth Management and Financial Markets. A fourth segment,
U.S. Specialty Finance and International, complements the growth of
its domestic operations. Its securities are listed on the Toronto
Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or
via social media.
SOURCE National Bank of Canada
