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National Bank of Canada reported a 5% decline in quarterly profit on Wednesday, as the lender set aside bigger rainy-day funds to deal with economic uncertainty, which outweighed gains stemming from higher interest rates. Surging inflation has squeezed consumers' financial strength, prompting banks to increase provisions in case of delays or defaults in loan repayments by borrowers. The bank reported C$86 million in provisions for credit losses (PCLs) for the quarter.