The wealth management arm of Canada’s National Bank has posted a net income of C$64 million in the third quarter of 2014, a 31% increase from C$49 million in the same quarter of 2013.
The division’s total revenues amounted to C$333 million, a rise of C$44 million or 15% compared to C$289 million reported a year ago.
The bank said that rise in revenues was driven particularly by growth across all revenue streams and by the TD Waterhouse acquisition.
Third-quarter non-interest expenses stood at C$246 million, up 11% year over year.
Overall, the banking group reported third quarter net income of C$441 million, up 10% from C$402 million in the same quarter of 2013.