National Bank Sees 10% of Profit From Global Business by 2020

  • Bank to seek controlling stakes for Africa, Asia investments
  • CEO Vachon sets 5-year timeframe for decision on bank stakes

National Bank of Canada seeks to generate at least 10 percent of profit from its international business by 2020, while looking to expand its stakes in Africa and Asia lenders into controlling positions, Chief Executive Officer Louis Vachon said.

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