National Bank Annual Meeting of Shareholders: Strong and Stable Growth in 2013
MONTREAL, April 10, 2014 /CNW Telbec/ - National Bank held its Annual Meeting
of Shareholders today in Calgary, Alberta, which has become an increasingly
important focal point of business for the Bank. Its presence has grown
considerably in Western Canada in recent years, mainly due to important
acquisitions in wealth management. Active in Western Canada since 1892, the
Bank has nearly 800 employees, 40 branches and securities brokerage offices,
and is a major player in capital markets.
During the Meeting, the Bank stated its confidence in Quebec's business
context: "Despite the challenges presented by public and private debt, there
are encouraging signs that an equilibrium is being attained, thanks to renewed
efforts by the various levels of government, businesses and citizens," said
Louis Vachon, President and Chief Executive Officer. "I also firmly believe
that our flexible super-regional bank model will continue to deliver over the
years. Quebec's many fundamental and inspiring strengths and all the
development possibilities found elsewhere in Canada will allow the Bank and
its clients to continue growing at a steady pace."
Mr. Vachon also gave a positive overview of the Bank's activities. "National
Bank has set a clear objective for itself: to offer a superior experience
across all its channels, including branches and telephone services, as well as
online and mobile platforms. We want to continue setting ourselves apart so
that all the key contributors to the Bank's success—our employees, clients
and shareholders—can benefit, as can all the communities the Bank serves."
Excellent overall performance in 2013
Year after year, the Bank has performed solidly in all areas. Its financial
strength, highly motivated teams, and the close relationships it has forged
with the communities and its clients have placed the Bank in a strong position
to further its growth.
During the Meeting, Mr. Vachon also discussed the Bank's excellent results in
2013. In addition to posting solid financial results, supported by growth
across its three business segments, the Bank succeeded in generating major
Long-term value for shareholders
-- Superior total shareholder return for 3-, 5- and 10-year
periods, and the dividend was increased by 10%
-- Ranked among the most solid banks in the world for its
financial strength by Bloomberg Markets magazine for the third
A recognized top employer
-- Continued presence among the top employers in the country,
including the 50 Best Employers in Canada, Best Employers for
New Canadians and Best Diversity Employers
-- A leader in the number of women represented: close to 50% of
executive positions held by women, and an increase in the
number of women on the Board of Directors.
Promising initiatives for a superior client experience
-- New features have been added to our mobile solutions—more
than 235,000 users to date
-- Rollout in Quebec of one of the best mortgage origination
platforms in North America, which allows 75% of applications to
be processed in only one client meeting.
Ongoing investments in IT and targeted expansion
The Bank will continue investing in IT over the next few years. One of its
priority initiatives is to offer clients an even greater multichannel
experience. In addition, the Bank's website www.nbc.ca is being revamped, as
are all its automated banking machines.
The Bank's strategic priorities also include a measured expansion in certain
international markets. For example, the Bank would like to increase its
capacity to sell Canadian products abroad. Opening an office in Hong Kong and
boosting its presence in major financial centres, such as London and New York,
will help achieve this objective.
Changes to the Board of Directors
Some of the changes to the composition of the Board of Directors were
addressed at the Annual Meeting of Shareholders. Since Jean Douville and Paul
Gobeil did not seek to renew their mandates, the nominations of Julie Payette
and Richard Fortin, who joined the Board this past year, were proposed and
"On behalf of the Bank's shareholders and employees, I would like to sincerely
thank Messrs. Douville and Gobeil for their dedication and involvement. In his
role as Chairman of the Board of Directors for the past 10 years, Mr. Douville
skilfully guided us through several major events, and Paul Gobeil made a
significant contribution to many of the Board committees," stated Louis
Vachon, President and CEO.
Ms. Payette will bring to the Board of Directors highly specialized expertise
in information technology and large-scale project management, while Mr.
Fortin's extensive knowledge of retail trade and finance will be a major asset.
About National Bank of Canada
With $195 billion in assets as at January 31, 2014, National Bank of Canada
(www.nbc.ca), together with its subsidiaries, forms one of Canada's leading
integrated financial groups, and has been named among the 20 strongest banks
in the world by Bloomberg Markets magazine. The Bank has close to 20,000
employees and is widely recognized as a top employer. The Bank's securities
are listed on the Toronto Stock Exchange (NA:TSX). Follow the Bank's
activities via social media and learn more about its extensive community
involvement at clearfacts.ca and commitment.nationalbank.ca.
SOURCE National Bank of Canada
(The telephone number provided below is for the exclusive use of journalists
and other media representatives.):
Marie-Pierre Jodoin Senior Advisor - Public Affairs National Bank Tel.:
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-0- Apr/10/2014 16:26 GMT
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