National Bank of Canada's profit gets a lift from Canadian Western deal

Feb 25 (Reuters) - National Bank of Canada NA.TO reported higher first-quarter profit on Wednesday, as the acquisition of Canadian Western Bank boosted its personal and commercial banking business.

The lender said net income in the personal and commercial banking unit jumped 47% to C$427 million from a year earlier, while revenue increased 27% following the purchase.

Lingering uncertainty over U.S.-Canada trade relations has weighed on business and consumer confidence, encouraging Canadian lenders to rely more on higher-margin businesses such as capital markets and wealth management.

National Bank's capital markets profit rose 6% from a year ago to C$443 million in the reported quarter, while its wealth management unit's profit increased 12% to C$272 million.

Peer Bank of Nova Scotia BNS.TO beat profit estimates on Tuesday, supported by strong growth across segments.

National Bank posted an adjusted profit of C$1.32 billion ($963.50 million), or C$3.25 per share, in the three months ended January 31, compared with a profit of C$1.05 billion, or C$2.93 per share, a year earlier.

Analysts had expected an adjusted profit of C$2.99 per share, according to data compiled by LSEG.

($1 = 1.3700 Canadian dollars)