💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

BRIEF-National Bank expects to take a charge of about $175 mln in Q4

Published 2016-10-27, 08:13 a/m
© Reuters.  BRIEF-National Bank expects to take a charge of about $175 mln in Q4

Oct 27 (Reuters) - National Bank Of Canada:

* National Bank announces a restructuring charge and write-offs of intangible assets in Q4 2016

* National Bank of Canada - expects to take a charge in its fiscal 2016 Q4 earnings relating to certain restructuring initiatives

* National Bank of Canada - expects to take a charge in its fiscal 2016 Q4 totalling approximately $175 million, or $128 million after tax ($0.38 per share)

* National Bank of Canada - restructuring charge includes employee severance payments and premises optimization

* National Bank of Canada - expects to realize approximately $120 million in annual pre-tax recurring savings.

* National Bank of Canada - estimates that its cet1 ratio will be approximately 10.0% as at October 31, 2016.

* National Bank of Canada - as a result of restructuring measures, just over 600 employee departures are expected

* National Bank of Canada - expects to increase proportion of its employees in knowledge-intensive sectors over coming years. Source text for Eikon: Further company coverage: NA.TO

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.