Montreal | Arab Canada News

The National Bank of Canada announced stable growth in its mortgage portfolio during the second quarter of this year, driven by strong new lending operations and the renewal of real estate contracts, despite its ongoing focus on integrating the Canadian Western Bank into its operations.

The bank noted in its quarterly report that performance in the real estate lending sector remained strong, supported by consumer confidence and stable demand rates, despite the challenges facing the real estate market at the national level, particularly in light of rising interest rates and a slowdown in new home sales.

This performance comes amid strategic efforts by the bank to enhance its presence in western markets through a gradual integration of Canadian Western Bank, which is considered one of the bank's most significant expansion moves in the last decade.

Management confirmed that the bank will continue to focus on balanced expansion and improving operational efficiency while maintaining asset quality and closely monitoring real estate market risks.

The bank's results are seen as a signal of continued momentum in some segments of real estate financing, despite the macroeconomic challenges facing the Canadian market, including the technical recession and fluctuating buyer confidence.