National Bank of Canada
| National Bank of Canada
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|---|---|
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| legal form | Public Company (Canada) |
| ISIN | CA6330671034 |
| founding | 1859 |
| Seat | Montreal , Canada |
| management | Louis Vachon (CEO) |
| Number of employees | 19,764 (2015) |
| sales | 5746000000 CAD 3.99 billion EUR |
| Branch | Bank |
| Website | www.nbc.ca |
National Bank of Canada ( French Banque Nationale du Canada ) is a Canadian company with headquarters in Montreal . The company is listed in the S & P / TSX 60 share index. The bank has 19,764 employees (as of October 31, 2015). Founded in 1859, the company is the largest bank in Québec and the sixth largest in Canada with 2.4 million retail customers .
In 2011, the bank was voted the financially most secure bank in North America by Bloomberg Markets . The bank achieved third place worldwide in the category “The World's Strongest Banks”.
history
In 1859 the francophone entrepreneurs Eugène Chinic, Isidore Thibodeau, Ulric-Joseph Tessier, Olivier Robitaille, Cirice Têtu, David Dussault and Prudent Vallée decided to found a new bank because of the unsatisfactory banking policies of the states of Québec and Ontario . On May 4, 1859, the bank was officially founded under the name Banque Nationale , but the first branch was not opened until May of the following year . The branch was on Saint-Jean Street in Québec City . After a fire , the branch in the city was reopened on rue Saint-Pierre - it was the first bank in today's financial district of the city.
At the end of the 19th and beginning of the 20th century, the bank went through several economic crises , during which it had to report large losses. The National Bank of Canada competed with the Banque d'Hochelaga, founded in Montreal in 1874, and The Provincial Bank of Canada, also founded in Montreal in 1891 . 1921 did the merger between the National Bank of Canada and the Banque d'Hochelaga under the new name Banque Canadienne Nationale or the English equivalent Bank Canadian National (BCN). The Provincial Bank of Canada was offered to also participate in the merger and to merge into a large credit institution; however, the Provincial Bank rejected the merger offer.
In 1968 the BCN launched a credit card in collaboration with other banks under the name Chargex . It was the first credit card issued by a Canadian financial institution.
During the 1970s and 1980s, competition between BCN and the Provincial Bank of Canada intensified. Although the BCN was now twice the size of the Provincial Bank, the Provincial Bank was able to through takeovers of other Canadian banks, especially in 1970 through the takeover of The People's Bank , which emerged from the Quebec Savings Bank , founded two years earlier in the mid-19th century as well as the Toronto- based Unity Bank of Canada 1976 and Laurentide Financial Corporation Ltd. from Vancouver in 1979, also grew significantly. In November 1979 the Provincial Bank and BCN finally merged to form the new National Bank of Canada. The company headquarters was established in the two office towers in Montreal that the Provincial Bank and Bell Canada had built in cooperation two years earlier . The merger of these two credit institutions, already operating nationally and internationally, was one of the largest corporate mergers ever.
From 1985 the National Bank restructured its business areas and focused on banking, business in the financial markets and wealth management , which in particular describes private banking with its characteristics on wealth advice and wealth management . In the 1980s and 1990s, the National Bank took over various smaller Canadian banks and established various subsidiaries . In 1996 the bank achieved fixed assets worth CAN 50 billion (approx. EUR 37 billion ) for the first time , and in 2006 the limit of CAN 100 billion (approx. EUR 74.1 billion) was exceeded.
Group structure
President and Chief Executive Officer (CEO) is Louis Vachon. Vachon was named CEO in June 2007; previously he was Chief Operation Officer since 2006 . Vachon reports to various Executive Vice Presidents who are responsible for various corporate divisions: Stéphane Bilodeau ( Operations ), William Bonnell ( Risk Management ), John B. Cieslak ( Information Technology , Sourcing and Organizational Performance ), Diane Giard ( Banking ) , Lynn Jeanniot ( Human Resources and Corporate Affairs ) and Karen Leggett ( Marketing ).
The board of directors consists of 14 people, they form the management and control body of the company. Chairman of the Board of Directors ( Chairman of the Board ) has been November 1991 Jean Douville from Québec.
Key figures
The bank has 2.4 million individual customers, the majority of whom are private customers. The bank has 19,920 employees. The company's market capitalization through issued shares is CAD 12.4 billion ( EUR 9.2 billion ) and fixed assets CAN 178.0 billion ( EUR 132 billion ).
The National Bank's turnover is 52% from banking ( Personal and Commercial Banking ), 27% from activities in the financial markets ( Financial Markets ) and 21% from wealth management ( Wealth Management ). The resulting balance sheet profit is distributed in similar proportions: 50% comes from banking, 37% from the financial markets and 13% from investment advice. The activities in the other business areas play a negligibly small role.
Evaluation by rating agencies
The four well-known rating agencies Moody’s , Standard & Poor's , DBRS and Fitch all give stable ratings to the National Bank. Moody's assigns a rating of Aa3 , Standard & Poor's an A- , DBRS an AA and Fitch an A + as long-term ratings (with a duration of more than 360 days) . For the short term ratings, ratings of P-1 (Moody's), A-2 (Standard & Poor's), R-1 (DBRS) and F1 (Fitch) are assigned.
Memberships
The National Bank of Canada is a member of the Canadian Bankers Association (CBA) and a registered member of the Canada Deposit Insurance Corporation (CDIC), the Canadian deposit insurance company . The National Bank is also a member of Interac , Mastercard International, the Cirrus Network and The Exchange network .
Web links
Individual evidence
- ↑ a b NBC 2015 Annual Report ( Memento of the original dated February 1, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , accessed February 1, 2016
- ↑ Converted at the rate on the balance sheet date, October 31, 2015
- ↑ a b c In letter. (pdf) (No longer available online.) National Bank of Canada, formerly original ; accessed on February 24, 2013 . ( Page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.
- ↑ National Bank of Canada- Press Release 2011 , accessed on 19 November 2012 found.
- ↑ a b c d e History. National Bank of Canada, accessed February 24, 2013 .
- ^ Louis Vachon: Biographical Notes. (pdf) (No longer available online.) Archived from the original on February 2, 2013 ; accessed on February 26, 2013 (English). Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ^ Office of the President. National Bank, accessed February 26, 2013 .
- ^ Board of Directors. National Bank of Canada, accessed February 26, 2013 .
- ^ Biography of Jean Douville. (No longer available online.) Archived from the original on May 21, 2013 ; Retrieved February 26, 2013 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ^ National Bank of Canada. Moody's, accessed February 26, 2013 .
- ^ S&P downgrades Scotiabank, National Bank, 4 others. Financial Post, accessed February 26, 2013 .
- ↑ Fitch Affirms National Bank of Canada at 'A +'; Outlook stable. Bloomberg, accessed February 26, 2013 .
- ↑ Credit Ratings. National Bank of Canada, accessed February 26, 2013 .
