National Bank of Canada


National Bank of Canada
National Bank of Canada
Banque Nationale du Canada
Type Public company
Traded as TSXNA
Industry Bank
Founded Montreal, Quebec, Canada 1859
Headquarters Montreal, Quebec, Canada
Key people Louis Vachon (CEO)
Products Financial services
Revenue $4.3 billion CAD (2010)
Net income increase $1.0 billion CAD (2010)
Total assets $145.3 billion CAD (2010)
Employees 18,322 (Full-time equivalent, 2010)
Website www.nbc.ca

National Bank of Canada (French: Banque Nationale du Canada) (TSXNA) is the 6th largest bank and 8th largest financial institution (by market cap) in Canada.[1] The bank's headquarters are in Montreal, Quebec.[2] There are 446 branches, the vast majority of which are in Quebec, Ontario and New Brunswick, and 2.35 million personal clients.[3] The bank also has representative offices or branches in Havana, Hong Kong, London, Paris, Nassau, New York City, and a subsidiary of 2 branches in Florida named Natbank. National Bank of Canada's Institution Number (or bank number) is 006.

The bank is mainly used by French-speaking Canadians, with the majority of bank branches being centred in the province of Quebec.

Contents

Services

Personal and Commercial Wealth Management Financial Markets
• In-branch and remote payment services for individuals and businesses

• Broad offering of mortgage and personal loan products for consumers

• Full suite of savings and investment products sold through specialists in the branches and business offices

• Banking products marketed through partnerships

• Lending, deposit and cash management services for businesses
• Specialized financing: oil and gas, agribusiness, audio-visual productions, health

• International foreign exchange, factoring and payment services

• Credit cards for consumers and businesses

• Point-of-sale financing

• Direct sale of automobile and home insurance
• Sale of group insurance products to businesses

• Life and health insurance products
• Financial and estate planning services

• Private Banking

• Full-service and discount brokerage

• Trust and custodial services
• Design, management and support for sales of products

marketed through the branches such as National Bank Mutual Funds and Private Investment Management
• Institutional investment portfolio management
• Administrative services for third-party brokers
• Design and marketing of investment products to third parties and direct sale of mutual funds

• Financing through equities, bonds and credit facilities

• Deposit, foreign exchange and riskmanagement services to corporations, governments and institutional clients • Merger and acquisition advisory services
• Investing on the Bank’s behalf
• Design of structured products for consumers and personalized solutions for high-net-worth clients
• Trading on capital markets: shares, fixed-income securities, derivatives, foreign exchange and commodities
• Bank financing and asset/liability matching
• Alternative management

History

  • 1859: Eugène Chinic, Isodore Thibodeau, Ulric-Joseph Tessier, Olivier Robitaille, Cirice Têtu, David Dussault, Prudent Vallée and other citizens of Quebec decide to create the Banque Nationale, an institution by and for the francophone community. The legislature permits the bank to incorporate.
  • 1860: Banque Nationale commences operations.
  • 1924: Banque Nationale is caught up in a serious recession. It merges with Banque d'Hochelaga (est. in Montréal in 1874) to form Banque Canadienne Nationale (BCN).
  • 1976: BCN establishes an agency in New York.
  • 1979: BCN merges with the Provincial Bank of Canada/Banque provinciale du Canada to form the Banque Nationale du Canada (BNC; National Bank of Canada).
  • 1983: The New York agency becomes a branch, and the bank opens a representative office in Seoul.
  • 1985: BNC acquires Mercantile Bank of Canada from Citibank. Mercantile has an office in New York (licensed 1984), which BNC merges in.
  • 1987: BNC swaps US$4 million of restructured bad loans for one-tenth of Banco Osorno y La Union, a Chilean bank.
  • 1988: BNC acquired the stock brokerage firm, Lévesque, Beaubien Inc., now known as National Bank Financial
  • 1993: BNC acquires the assets of General Trust of Canada (established 1927).
  • 1994: BNC establishes a US subsidiary, Natbank, with a branch in Pompano Beach in Florida. BNC also establishes a representative office in Mexico City.
  • 1995: Natbank opens its second branch and a head office in Hollywood, Florida. BNC opens an office in Havana in response to the passage of a new law in Cuba authorizing foreign bank representative offices.
  • 1996: BNC acquires Family Trust Corporation and The Municipal Savings & Loans Corporation, both in Ontario. Also, BNC sells its stake in Banco Osorno y la Union to Banco Santander, which acquires the bank.
  • 2001: BNC acquires 17 branches in Quebec from Bank of Montreal.
  • 2008: Altamira and National Bank announce they will be merging Altamira operations into NBC branches.
  • 2011: In June BNC helped to form Maple Group Acquisition Corp. After another offer was rejected by TMX shareholders, on June 29, 2011 Maple Group became the sole bidder for TMX Group, operator of the Toronto Stock Exchange and Montreal Exchange. Luc Bertrand, vice presedent of National Bank also serves as spokesman for Maple Group. He is also TMX's largest individual shareholder.[4][5][6][7]

BNC closed the offices in Beirut, Mexico City, Seoul, Shanghai, and Taipei that it managed at various times.

Membership

The National Bank of Canada is a member of the Canadian Bankers Association (CBA) and registered member with the Canada Deposit Insurance Corporation (CDIC), a federal agency insuring deposits at all of Canada's chartered banks. It is also a member of:

See also List of banks in Canada

Key subsidiaries

  • Aquilon Capital, a high net worth investment management firm, a direct subsidiary of National Bank Financial
  • National Bank Home and Auto Insurance
  • Credigy Services Corporation, a defaulted credit card debt collector
  • Credigy Receivables Inc, a buyer of defaulted credit card accounts

Corporate governance

Current members of the board of directors of the National Bank of Canada are: Lawrence Bloomberg, Pierre Bourgie, Gérard Coulombe, Bernard Cyr, Shirley Dawe, Nicole Diamond-Gélinas, Jean Douville, Marcel Dutil, Jean Gaulin, Paul Gobeil, Réal Raymond, Roseann Runte, and Marc Tellier.

References

External links

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