National Bank ranked fifth strongest bank worldwide
Montreal, 3 May 2012 -
National Bank has been named one of the strongest banks in the world, clinching fifth spot worldwide and third in North America according to the internationally renowned Bloomberg Markets magazine. This is an impressive accomplishment given the Bank’s recent acquisitions, the increased dividends paid to shareholders, and the repurchase of common and preferred shares.
“Being included among the strongest banks for the second year in a row is a tremendous honour for National Bank and its employees, as well as for the Canadian banking industry. The Bank takes great pride in being an engine of economic growth and social development while maintaining the solid capital base needed to achieve its ambitious growth targets,” stated Louis Vachon, President and Chief Executive Officer.
Bloomberg ranked “The World’s Strongest Banks” based on five key criteria: (1) Tier 1 capital ratio, for which the Bank has one of the best ratios in the world; (2) non-performing assets to total assets, an aspect of risk management for which the Bank is widely recognized; (3) loan loss reserves to non-performing assets, an area in which the Bank outperforms its competitors in Canada; (4) stability, measured in terms of the ratio of deposits to funding; and (5) efficiency (costs to revenue), which the Bank is continually improving through such initiatives as its“One client, one bank” transformation.
This distinction follows closely on the heels of Bloomberg Markets’ recognition in January 2012 of National Bank Chief Economist and Strategist Stéfane Marion as top forecaster in Canada, and the distinctions garnered in 2011 by Mr. Marion and his team of economists who were ranked among the top foreign exchange forecasters in the world.
In recent months, the Bank has earned many accolades for the quality of its products and services, human resources management practices and social engagement, including the:
- Best Employers in Quebec (Aon Hewitt)
- Canada’s Best Diversity Employers (Mediacorp Canada)
- Best Employers in the Greater Toronto Area (Aon Hewitt)
- Montreal’s Top Employers (Mediacorp Canada)
- 50 Best Employers in Canada (Aon Hewitt)
- Lipper Awards for its mutual funds
- Winner of the AQME’s Énergia 2011 contest for its energy management
About National Bank of Canada
National Bank of Canada is an integrated group that provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. As at January 31, 2012, National Bank had over CDN $175 billion in assets in accordance with IFRS and, together with its subsidiaries, employed 19,785 people. The Bank’s securities are listed on the Toronto Stock Exchange (TSX: NA). For more information, visit the Bank’s website at www.nbc.ca. To access National Bank’s financial education portal, visit www.clearfacts.ca.
Information (The telephone number provided below is for the exclusive use of journalists and other media representatives.):
Senior Manager – Public Affairs