)
Edge12 Dec 2025
Running on Clouds: The Story of On
The story of how a Swiss runner's pursuit of a new running sensation became On, aiming to be the most premium global sportswear brand worldwide.
National Bank of Canada (NA) investor relations material
National Bank of Canada Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary3 Dec, 2025
Executive summary
Reported Q4 2025 adjusted EPS of CAD 2.82 and full-year adjusted EPS of CAD 11.28, with adjusted ROE at 15.3% and 9% EPS growth year-over-year.
Achieved all medium-term financial objectives for FY 2025, including a 7% dividend increase and a payout ratio of 40.7%.
Completed the largest acquisition in history (Canadian Western Bank) in February 2025, with integration and client migration ahead of schedule.
Announced acquisition of Laurentian Bank's retail, SME, and syndicated loan portfolios, expected to close by late 2026, further expanding national presence.
Quarterly dividend increased to $1.24 per share for Q1 2026.
Financial highlights
FY 2025 adjusted revenues up 25% year-over-year to $14,027 million; adjusted net income up 21% to $4,479 million.
Q4 2025 adjusted revenues up 28% year-over-year; adjusted net income up 25% year-over-year.
Q4 included a CAD 62 million intangible asset impairment in P&C, impacting EPS by CAD 0.11 after-tax.
Deposits reached CAD 318 billion, up 5% sequentially; total loans at CAD 303 billion, up 3% sequentially.
CET1 capital ratio at 13.75%-13.8% at year-end, supported by strong internal capital generation.
Outlook and guidance
Targeting 2026 adjusted EPS growth within 5%-10% medium-term objective and ROE around 15%.
Expecting positive operating leverage, continued business momentum, and impaired PCLs between 25-35 basis points.
CET1 ratio expected to converge around 13% by end of 2027, with continued buybacks and dividend increases.
Laurentian Bank transaction expected to be accretive to adjusted EPS by 1.5%-2% in the first year post-closing.
Management expects continued growth and superior returns, supported by a diversified business mix and strong capital ratios.
Quantify CWB's impact on national scale growth
Potential financial exposure from CRA reassessment?
Explain $62M intangible asset impairment in Q4
Detail CWB revenue synergy drivers for 2026
Quantify ROE drivers beyond CWB synergies by 2027
Outline P&C efficiency initiatives and timeline
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next National Bank of Canada earnings date
Q1 202625 Feb, 2026
Next National Bank of Canada earnings date
Q1 202625 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
National Bank of Canada provides its clients with a broad range of banking and investment products, including deposits, mortgages, loans to consumers, small businesses, institutional clients, and middle-market companies, asset management services through Groupe Financier National Inc., securities brokerage services under the National Bank Direct Brokerage brand name to individuals and institutional clients in Canada, and wealth management services. National Bank of Canada was founded in 1859 and is based in Montreal, Canada.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage