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National Bank of Canada Q4 net income up

National Bank of Canada has reported a net income of C$283m, or $1.74 diluted earnings per share, for the fourth quarter of 2011, compared to C$272m, or $1.66 diluted earnings per share, for the same period in 2010.

Total revenues for the fourth quarter of 2011 were C$1.19bn, up 8%, compared to C$1.09bn for the same period a year ago.

Wealth management segment posted a net income of C$35m, up 13%, compared to C$31m for the same period in the corresponding year.

National Bank of Canada president and CEO Louis Vachon said that the Bank raised its dividend by 6% to $0.75 per share for the next quarter. The One client, one bank probram enjoyed steady progress during the year, and the Bank will continue deploying it in 2012.

"Given the economic and financial uncertainty, especially in Europe, the Bank will remain vigilant in the management of its operations," added Vachon.