The Globe and Mail reports in its Thursday edition that National Bank of Canada exceeded analysts' expectations on Wednesday after it reported a profit of $1.03-billion or $2.89 per share in the third quarter, marking a 24-per-cent increase from the previous year's $2.33. The Globe's Andrew Willis writes that the bank's adjusted earnings per share stood at $2.68 for the three months ending July 31, surpassing analysts' $2.47 estimate. This marks the fourth consecutive quarter where the bank's results surpassed expectations. On Wednesday, the bank's stock closed at $126.91, a record high and marking a 27-per-cent increase over the past 12 months. The bank credited strong performance across all its business segments for the increase in earnings. It increased its lending by putting more of its capital to work and also set aside more money in reserves for bad debts. The bank's loan portfolio increased by 9 per cent compared with the same period last year, reaching $240-billion. Commercial lending rose by 16 per cent year-over-year, while personal loans grew by 4 per cent. The provisions for credit losses were $149-million, compared with $111-million in the same quarter last year and $138-million in the previous quarter.