National Bank of Canada
Encyclopedia
National Bank of Canada is the 6th largest bank
and 8th largest financial institution in Canada
. The bank's headquarters are in Montreal
, Quebec
.
There are 446 branches, the vast majority of which are in Quebec
, Ontario
and New Brunswick
, and 2.35 million personal clients. The bank also has representative offices or branches in Havana
, Hong Kong
, London
, Paris
, Nassau
, New York City
, and a subsidiary of 2 branches in Florida
named Natbank. National Bank of Canada's Institution Number (or bank number) is 006.
The bank is mainly used by French-speaking Canadians, with the majority of bank branches being centred in the province of Quebec.
BNC closed the offices in Beirut, Mexico City, Seoul, Shanghai, and Taipei that it managed at various times.
(CBA) and registered member with the Canada Deposit Insurance Corporation
(CDIC), a federal agency insuring deposits at all of Canada's chartered banks. It is also a member of:
See also List of banks in Canada
of the National Bank of Canada are: Lawrence Bloomberg, Pierre Bourgie, Gérard Coulombe, Bernard Cyr, Shirley Dawe, Nicole Diamond-Gélinas, Jean Douville, Marcel Dutil
, Jean Gaulin, Paul Gobeil
, Réal Raymond, Roseann Runte
, and Marc Tellier.
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
and 8th largest financial institution in Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
. The bank's headquarters are in Montreal
Montreal
Montreal is a city in Canada. It is the largest city in the province of Quebec, the second-largest city in Canada and the seventh largest in North America...
, Quebec
Quebec
Quebec or is a province in east-central Canada. It is the only Canadian province with a predominantly French-speaking population and the only one whose sole official language is French at the provincial level....
.
There are 446 branches, the vast majority of which are in Quebec
Quebec
Quebec or is a province in east-central Canada. It is the only Canadian province with a predominantly French-speaking population and the only one whose sole official language is French at the provincial level....
, Ontario
Ontario
Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
and New Brunswick
New Brunswick
New Brunswick is one of Canada's three Maritime provinces and is the only province in the federation that is constitutionally bilingual . The provincial capital is Fredericton and Saint John is the most populous city. Greater Moncton is the largest Census Metropolitan Area...
, and 2.35 million personal clients. The bank also has representative offices or branches in Havana
Havana
Havana is the capital city, province, major port, and leading commercial centre of Cuba. The city proper has a population of 2.1 million inhabitants, and it spans a total of — making it the largest city in the Caribbean region, and the most populous...
, Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
, London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
, Nassau
Nassau, Bahamas
Nassau is the capital, largest city, and commercial centre of the Commonwealth of the Bahamas. The city has a population of 248,948 , 70 percent of the entire population of The Bahamas...
, New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
, and a subsidiary of 2 branches in Florida
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
named Natbank. National Bank of Canada's Institution Number (or bank number) is 006.
The bank is mainly used by French-speaking Canadians, with the majority of bank branches being centred in the province of Quebec.
Services
| Personal and Commercial | Wealth Management | Financial Markets |
|---|---|---|
| • In-branch and remote payment services for individuals and businesses • Broad offering of mortgage and personal loan products for consumers • Full suite of savings and investment products sold through specialists in the branches and business offices • Banking products marketed through partnerships • Lending, deposit and cash management services for businesses • Specialized financing: oil and gas, agribusiness, audio-visual productions, health • International foreign exchange, factoring and payment services • Credit cards for consumers and businesses • Point-of-sale financing • Direct sale of automobile and home insurance • Sale of group insurance products to businesses • Life and health insurance products • Financial and estate planning services • Private Banking |
• Full-service and discount brokerage • Trust and custodial services • Design, management and support for sales of products marketed through the branches such as National Bank Mutual Funds and Private Investment Management • Institutional investment portfolio management • Administrative services for third-party brokers • Design and marketing of investment products to third parties and direct sale of mutual funds |
• Financing through equities, bonds and credit facilities • Deposit, foreign exchange and riskmanagement services to corporations, governments and institutional clients • Merger and acquisition advisory services • Investing on the Bank’s behalf • Design of structured products for consumers and personalized solutions for high-net-worth clients • Trading on capital markets: shares, fixed-income securities, derivatives, foreign exchange and commodities • Bank financing and asset/liability matching • Alternative management |
History
- 1859: Eugène ChinicEugène ChinicGuillaume-Eugène Chinic was a Canadian businessman and politician.Born in Quebec City, he was one of the founders of the District Bank of Quebec ....
, Isodore Thibodeau, Ulric-Joseph TessierUlric-Joseph TessierUlric-Joseph Tessier was a Quebec lawyer, judge, seigneur and political figure. He was a member of the Senate of Canada representing the Gulf division from 1867 to 1873 and served as mayor of Quebec City from 1853 to 1854....
, Olivier Robitaille, Cirice Têtu, David Dussault, Prudent Vallée and other citizens of Quebec decide to create the Banque NationaleBanque canadienne nationaleThe Banque canadienne nationale was a Quebec-based bank in Canada.In 1859, several prominent Quebecers founded the Banque Nationale in Quebec City as a banking institution controlled by French-speaking businessmen and dedicated to promoting their interests.In 1924, the Banque Nationale, which was...
, an institution by and for the francophone community. The legislature permits the bank to incorporate. - 1860: Banque Nationale commences operations.
- 1924: Banque Nationale is caught up in a serious recession. It merges with Banque d'Hochelaga (est. in Montréal in 1874) to form Banque Canadienne NationaleBanque canadienne nationaleThe Banque canadienne nationale was a Quebec-based bank in Canada.In 1859, several prominent Quebecers founded the Banque Nationale in Quebec City as a banking institution controlled by French-speaking businessmen and dedicated to promoting their interests.In 1924, the Banque Nationale, which was...
(BCN). - 1976: BCN establishes an agency in New York.
- 1979: BCN merges with the Provincial Bank of Canada/Banque provinciale du Canada to form the Banque Nationale du Canada (BNC; National Bank of Canada).
- 1983: The New York agency becomes a branch, and the bank opens a representative office in SeoulSeoulSeoul , officially the Seoul Special City, is the capital and largest metropolis of South Korea. A megacity with a population of over 10 million, it is the largest city proper in the OECD developed world...
. - 1985: BNC acquires Mercantile Bank of Canada from CitibankCitibankCitibank, a major international bank, is the consumer banking arm of financial services giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York...
. Mercantile has an office in New York (licensed 1984), which BNC merges in. - 1987: BNC swaps US$4 million of restructured bad loans for one-tenth of Banco Osorno y La Union, a Chilean bank.
- 1988: BNC acquired the stock brokerStock brokerA stock broker or stockbroker is a regulated professional broker who buys and sells shares and other securities through market makers or Agency Only Firms on behalf of investors...
age firm, Lévesque, Beaubien Inc., now known as National Bank Financial - 1993: BNC acquires the assets of General Trust of Canada (established 1927).
- 1994: BNC establishes a US subsidiary, Natbank, with a branch in Pompano Beach in Florida. BNC also establishes a representative office in Mexico CityMexico CityMexico City is the Federal District , capital of Mexico and seat of the federal powers of the Mexican Union. It is a federal entity within Mexico which is not part of any one of the 31 Mexican states but belongs to the federation as a whole...
. - 1995: Natbank opens its second branch and a head office in Hollywood, Florida. BNC opens an office in HavanaHavanaHavana is the capital city, province, major port, and leading commercial centre of Cuba. The city proper has a population of 2.1 million inhabitants, and it spans a total of — making it the largest city in the Caribbean region, and the most populous...
in response to the passage of a new law in Cuba authorizing foreign bank representative offices. - 1996: BNC acquires Family Trust Corporation and The Municipal Savings & Loans Corporation, both in Ontario. Also, BNC sells its stake in Banco Osorno y la Union to Banco Santander, which acquires the bank.
- 2001: BNC acquires 17 branches in Quebec from Bank of MontrealBank of MontrealThe Bank of Montreal , , or BMO Financial Group, is the fourth largest bank in Canada by deposits. The Bank of Montreal was founded on June 23, 1817 by John Richardson and eight merchants in a rented house in Montreal, Quebec. On May 19, 1817 the Articles of Association were adopted, making it...
. - 2008: Altamira and National Bank announce they will be merging Altamira operations into NBC branches.
- 2011: In June BNC helped to form Maple Group Acquisition Corp. After another offer was rejected by TMX shareholders, on June 29, 2011 Maple Group became the sole bidder for TMX Group, operator of the Toronto Stock Exchange and Montreal Exchange. Luc Bertrand, vice presedent of National Bank also serves as spokesman for Maple Group. He is also TMX's largest individual shareholder.
BNC closed the offices in Beirut, Mexico City, Seoul, Shanghai, and Taipei that it managed at various times.
Membership
The National Bank of Canada is a member of the Canadian Bankers AssociationCanadian Bankers Association
The Canadian Bankers Association is a financial lobbying group that works on behalf of 52 domestic banks, foreign bank subsidiaries and foreign bank branches operating in Canada and their 267,000 employees. The CBA was organized in Montreal in 1891, making it one of Canada’s oldest interest...
(CBA) and registered member with the Canada Deposit Insurance Corporation
Canada Deposit Insurance Corporation
-External links:*** Official CDIC site*...
(CDIC), a federal agency insuring deposits at all of Canada's chartered banks. It is also a member of:
- Cirrus Network
- InteracInteracInterac Association is a Canadian organization linking enterprises that have proprietary networks so that they may communicate with each other for the purpose of exchanging electronic financial transactions. The Association was founded in 1984 as a cooperative venture between five financial...
- MasterCardMasterCardMastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
International - NYCENYCEThe New York Currency Exchange is an interbank network connecting the ATMs of various financial institutions in the United States and Canada. NYCE also serves as an EFTPOS network for NYCE-linked ATM cards....
point of salePoint of salePoint of sale or checkout is the location where a transaction occurs...
Network - The Exchange (Canada)
See also List of banks in Canada
Key subsidiaries
- Aquilon Capital, a high net worth investment management firm, a direct subsidiary of National Bank Financial
- National Bank Home and Auto Insurance
- Credigy Services Corporation, a defaulted credit card debt collector
- Credigy Receivables Inc, a buyer of defaulted credit card accounts
Corporate governance
Current members of the board of directorsBoard of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
of the National Bank of Canada are: Lawrence Bloomberg, Pierre Bourgie, Gérard Coulombe, Bernard Cyr, Shirley Dawe, Nicole Diamond-Gélinas, Jean Douville, Marcel Dutil
Marcel Dutil
Marcel Dutil, CM, CQ is a Canadian businessman. In 1963, he began working at Canam Steel Works, a company founded by his father Roger Dutil in 1960. In 1973, he became CEO of his father's company now known as the Canam inc.; Marcel Dutil is also the grandson of Édouard Lacroix.-External links:* *...
, Jean Gaulin, Paul Gobeil
Paul Gobeil
Paul Gobeil is a former Canadian politician and businessman.From 1985 to 1989, Mr. Gobeil was a Liberal member of the National Assembly for the riding of Verdun and served as Minister assigned to Administration, President of the Treasury Board and as Minister of International Affairs for the...
, Réal Raymond, Roseann Runte
Roseann Runte
Roseann O'Reilly Runte, is a college professor and the President and Vice-Chancellor of Carleton University in Ottawa, Canada. She was also the seventh president of Old Dominion University in Norfolk, Virginia, only the third woman to head a four-year college or university in Virginia...
, and Marc Tellier.