National Bank of Canada

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This article is about a commercial bank. For Canada's central bank, see Bank of Canada.

National Bank of Canada

Type	Public company
Founded	Montreal, Quebec, Canada
Headquarters	Montreal, Quebec, Canada
Key people	Louis Vachon (CEO)
Industry	Bank
Products	Financial services
Employees	▲ 17,000
Website	http://www.nbc.ca

National Bank of Canada (Banque Nationale du Canada) (TSX: NA) is the sixth largest bank in Canada, and so is one of the Big Six banks. The bank's headquarters are in Montreal, Quebec, and it has 546 branches nationwide, of which 454 are in Quebec. The bank also has representative offices or branches in Beirut, Havana, Hong Kong, Seoul, Paris, Nassau, and New York, and a subsidiary in Florida.

1 Services
2 History
3 Membership
4 Key Subsidiaries
5 Corporate governance
6 External links

[edit] 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

[edit] 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.
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 (est. 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.

[edit] 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

[edit] Key Subsidiaries

National Bank Home and Auto Insurance

[edit] 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.

[edit] External links

Commercial banks in Canada
AMEX Bank of Canada \| ATB Financial \| Bank of Montreal \| BDC \| CIBC \| CTFS \| Canadian Western Bank \| Citibank Canada \| Citizens Bank of Canada \| First Nations \| HSBC Bank Canada \| Laurentian Bank \| Manulife \| National Bank \| President's Choice Financial \| RBC \| Scotiabank \| TD Canada Trust