National Bank of Canada
National Bank of Canada (French Banque Nationale du Canada ) is a Canadian company based in Montreal. The company is listed on the stock index S & P / TSX 60. In the credit institution are 19,920 employees ( as at 31 October 2012). The company was founded in 1859 and has 2.4 million retail customers, the largest bank in Québec and the sixth largest bank in Canada.
In 2011, the Bank in the TV magazine Bloomberg Markets was chosen to financially secure the Bank of North America. Worldwide, the bank achieved in the category "The World's Strongest Banks " in third place.
History
In 1859, the Francophone entrepreneurs Eugène Chinic, Isidore Thibodeau, Ulric -Joseph Tessier, Olivier Robitaille, Cirice Têtu, David Dussault and Prudent Vallée decided to set up because of it not satisfactory banking policy of the states of Quebec and Ontario, a new bank. On 4 May 1859, the Bank was officially founded under the name Banque Nationale, however, opened the first store on until May of the following year. The store was located on the Saint -Jean Street in Quebec City. After a fire, the branch was re-opened in the city on the rue Saint- Pierre - she was the first bank in today's financial district.
End of the 19th and beginning of the 20th century, the bank went through several economic crises, during which they must announce some big losses. The National Bank of Canada was in competition with the Banque d' Hochelaga and, also founded in Montreal in 1891 The Provincial Bank of Canada was founded in Montreal in 1874. 1921, the merger between the National Bank of Canada Banque d' Hochelaga and under the new name Banque Canadienne Nationale or the English equivalent Canadian National Bank ( BCN). The Provincial Bank of Canada was offered, in order to participate in the merger and build them into a large credit institution; However, the Provincial Bank rejected the merger proposal.
In 1968, the BCN brought in collaboration with other banks under the name Chargex a credit card. It was the first by a Canadian bank issued credit card.
During the 1970s and 1980s, the rivalry between the BCN and the Provincial Bank of Canada tightened further. Although the BCN was meanwhile twice as large as the Provincial Bank, but the Provincial Bank was through acquisitions of other Canadian banks, in particular in 1970 emerged through the acquisition of The People's Bank, which two years earlier, founded in the mid-19th century Quebec Savings Bank was, and the Toronto -based Unity Bank of Canada in 1976 and the Laurentide Financial Corporation Ltd.. , also grow substantially from Vancouver in 1979. Finally, in November 1979 it came to the merger of the Provincial Bank and the BCN to the new National Bank of Canada. The company's headquarters were established in the two two years earlier built by the Provincial Bank and Bell Canada in cooperation office towers in Montreal. The merger of these two already nationally and internationally active banks was one of the largest corporate mergers in history.
As of 1985, the National Bank restructured its divisions and sets the key concerns on the banking, transactions in the financial markets and wealth management, which describes in particular the private banking with its forms on advisory services and asset management. In the 1980s and 1990s, the National Bank takes over various small Canadian banks and establishes various subsidiaries. Reached in 1996, the Bank for the first time in assets worth 50 billion CAN (approx. 37 billion EUR ), 2006, the limit of 100 billion CAN is exceeded (about 74.1 billion EUR ).
Group structure
President and Chief Executive Officer ( CEO), Louis Vachon. Vachon was appointed in June 2007 as CEO; previously he was Chief Operating Officer since 2006. Vachon are subject to various Executive Vice Presidents, who are responsible for different areas of the Group: Stéphane Bilodeau ( Operations ), William Bonnell ( Risk Management ), John B. Cieslak ( areas of Information Technology, Sourcing and Organizational Performance ), Diane Giard (range Banking) Lynn Jeanniot ( Human Resources and Corporate Affairs ) and Karen Leggett ( marketing ).
The Board of Directors consists of 14 people, they form the management and supervisory board of the company. Chairman of the Board of Directors ( Chairman of the Board), Jean Douville from Québec since November 1991.
Indicators
The bank has 2.4 million individual customers, of which the majority of residential customers is formed. The Bank has 19.920 employees. The market capitalization of the company through shares issued amounts to 12.4 billion CAD ( EUR 9.2 billion ) and the fixed assets 178 000 000 000 CAN ( 132 billion EUR ).
Sales of the National Bank is accounted for 52% of the banking business (Personal and Commercial Banking), 27% to the activities on the financial markets ( Financial Markets ) and 21% on advisory services ( wealth management ). The resulting net profit is distributed to similar proportions: 50 % arise from the banking business, 37 % from the financial markets and 13 % on advisory services. The activities in the other business areas play a negligible role.
Rating by rating agencies
The four known rating agencies Moody 's, Standard & Poor's, DBRS and Fitch Ratings assigned a generally stable to the National Bank. As a long- term ratings ( with a duration of more than 360 days ) Moody's assigns a rating of Aa3, Standard & Poor's A, Fitch, DBRS assigns an AA and an A . For the short term ratings are ratings of P-1 (Moody's), awarded A-2 ( Standard & Poor's), R -1 ( DBRS ) and F1 ( Fitch).
Memberships
The National Bank of Canada is a member of the Canadian Bankers Association ( CBA) and registered member of the Canada Deposit Insurance Corporation ( CDIC ), the Canadian deposit insurance. In addition, the National Bank is a member of Interac, MasterCard International, the Cirrus network and the network The Exchange.