National Bank CEO Warns of Harsh ‘New Reality’ for Borrowers
- Fixed-rate loans make up about two-thirds of its mortgage book
- CEO Ferreira sees sticky inflation, says rates to remain high
Laurent Ferreira.
Photographer: Andrej Ivanov/BloombergThis article is for subscribers only.
National Bank of Canada is better positioned than many of its larger rivals to navigate a downturn that’s poised to hit banks’ balance sheets and customers, according to Chief Executive Officer Laurent Ferreira.
Many of the firm’s clients with fixed-rate mortgages — accounting for about two-thirds of its home-loan book — will soon face a harsh “new reality,” Ferreira said Thursday in an interview.