National Bank of Canada is a financial institution that provides commercial, corporate, personal, retail and institutional banking services to individuals and businesses.
The Schedule I chartered bank also provides financial services such as mortgages, deposits, credit cards, loans, investment products, etc.
The Montreal-based bank was founded in 1859 as National Bank Financial Group. In the 1970s, The Provincial Bank and Bank Canadian National merges to form the National Bank of Canada.
It reportedly operates through 420 branches and 930 automated teller machines, serving over 2.4 million clients in Canada. The bank, which is listed on the Toronto Stock Exchange under the symbol ‘NA’, has major operations in Quebec.
The commercial bank also provides insurance products, trust services, asset management, online brokerage, and private banking services to Canadian and non-Canadian clients through its subsidiaries and offices in various countries, including the United States and Europe.
National Bank of Canada operates through different segments, including Wealth Management, Personal and Commercial, US Specialty Finance and International (USSF&I), Financial Markets and others.
Personal and Commercial Banking
The company provides personal and commercial banking services like loans, credit cards, accounts, retirement plans, mutual funds, exchange-traded funds and other investment products.
Wealth Management Segment
This segment operates and provides services through its internal and third-party distribution networks. The bank provides various wealth management solutions to their clients, including investment solutions, trust and estate services, brokerage and advice, etc.
The major activities include corporate banking, investment banking, commodities and foreign exchange, equities and fixed-income products. The segment caters to public sector institutions, large and medium-sized corporations and institutional investors.
US Speciality Finance and International
The bank focuses on the expertise activities related to specialty finance in the United States through Credigy. It also provides commercial and personal banking services through ABA Bank in Cambodia. The bank has 80 per cent ownership in Credigy, a specialty finance company based in Atlanta, Georgia. In addition, the Canada-based bank also manages the targeted investment activities in various emerging markets worldwide.
The other segment provides treasury services, assets and liability management, various non-recurring products, liquidity and fund management, corporate units and bank funding.
It is also included in the S&P/TSX 60 components.
National Bank of Canada 600 De La Gauchetière Street West, 7th Floor Montreal, Quebec H3B 4L2