The bank’s net income for the three months ended July 31 increased to C$419 million ($398.9 million) from C$379 million ($360.9 million), topping analysts' expectations thanks to strong performances by the firm’s wealth management and financial markets divisions, it said in a statement. (The analysts were polled by Bloomberg). As such, revenues grew 5 per cent to C$1.29 billion ($1.23 billion).

Income from the bank's financial markets segment, meanwhile, grew 42 per cent to C$158 million ($150.5 million), as its wealth management business rose 26 per cent to C$58 million ($55.2 million). Conversely, income from its core personal and commercial segment only grew 2 per cent in the third quarter of 2013.

National Bank is the third large Canadian lender to report quarterly results this week, as Bank of Montreal reported a 17 per cent profit jump and Bank of Nova Scotia, Canada’s third-largest bank by assets, hiked quarterly dividend by 3.3 per cent, the bank said.

As of July 31, 2013, National Bank of Canada had C$247.1 billion ($235.3 billion) in assets under management.