PRESS RELEASES
PRESS RELEASES
National Bank of Canada (the “Bank”) (TSX: NA) today released changes to its Supplementary Financial Information for the fiscal year ended October 31, 2023 and related quarters.
On November 1, 2023, as required by the International Financial Reporting Standards (IFRS), the Bank retrospectively applied accounting policy changes arising from the adoption of IFRS 17 – Insurance Contracts, which replaces the IFRS 4 standard addressing insurance contracts, as indicated in Note 2 to the audited annual consolidated financial statements for the fiscal year ended October 31, 2023. The related information for the fiscal year ended October 31, 2023 and related quarters has been adjusted to reflect these accounting policy changes.
The Bank’s results for the first quarter of 2024, which will be published on February 28, 2024, will reflect these changes.
The revised Supplementary Financial Information can be found on the Bank’s Quarterly Results webpage within the Investor Relations section at https://www.nbc.ca/about-us/investors/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 $424 billion in assets as at October 31, 2023, 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.
Information:
Marianne Ratté
Vice-President & Head, Investor Relations
National Bank of Canada
Jean-François Cadieux
Senior Manager - Public Affairs
National Bank of Canada