National Bank recognized as the strongest bank in North America
Montreal, 10 May 2011 -
National Bank Financial Group was named the strongest bank in North America and ranked third in the world in the June 2011 issue of the internationally renowned magazine Bloomberg Markets.
“This is a tremendous honour for the Bank and all those who contribute to its success. Year after year, the Financial Group and its employees take pride in being an engine of economic development and nurturing close ties with clients in order to better support them in carrying out their financial projects. Now that the Bank has been ranked among the best in the world, it is in a better position than ever to continue this work and create measurable wealth for all,” stated Louis Vachon, President and Chief Executive Officer.
Bloomberg ranked “The World’s Strongest Banks” based on five key criteria: (1) Tier 1 capital ratio, for which the Bank has one of the best ratios in the world; (2) non-performing assets to total assets, an aspect of risk management for which the Bank is widely recognized; (3) loan loss reserves to non-performing assets, an area in which the Bank outperforms its competitors in Canada; (4) stability, measured in terms of the ratio of deposits to funding; and (5) efficiency (costs to revenue), which the Bank is continually improving through such initiatives as its “One client, one bank” transformation.
This accomplishment comes in the wake of several distinctions awarded to National Bank Financial Group recently, including the 50 Best Employers in Canada for 2011 (Hewitt Associates).
About National Bank of Canada
National Bank of Canada is an integrated group that provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. National Bank has over $152 billion in assets and, together with its subsidiaries, employs 18,407 people. The Bank’s securities are listed on the Toronto Stock Exchange (NA:TSX). For more information, visit the Bank’s website at www.nbc.ca. To access National Bank Financial Group’s financial education portal, visit www.clearfacts.ca.
Information (The telephone number provided below is for the exclusive use of journalists and other media representatives.):
Senior Advisor – Public Relations
National Bank Financial Group