National Bank of Canada Annual Meeting of Shareholders: 2,900 new jobs since 2007
Montreal, 4 April 2012 -
- Record profits and revenues
- 2,900 new jobs since 2007
- 35,000 new personal banking clients in one year
- Highest proportion of women in senior management positions among the major banks
- Substantial commitments to clients and the community
National Bank generated added value for shareholders, clients, employees and the community thanks to its excellent financial performance, sound, responsible management practices, commitment to providing an uncompromising client experience and major contributions to society. That was the overall picture of 2011 painted by Louis Vachon, President and Chief Executive Officer of National Bank of Canada, at the Annual Meeting of Shareholders held earlier today in Montreal.
“Today, more than ever, National Bank’s growth is benefiting all of its stakeholders.With a top quartile financial performance, 2,900 jobs created since 2007, 35,000 new personal banking clients in just one year, and major contributions to the community, National Bank is continuing to grow while actively supporting economic and social development in Canada. The Bank is a solid organization that is well placed to reach new heights,” stated Mr. Vachon during his address.
An excellent financial performance
In addition to posting record revenues and profits in fiscal 2011, the Bank was named the strongest bank in North America by the internationally renowned magazine Bloomberg Markets, and the third strongest worldwide.
Since 2007, National Bank has added 2,900 jobs. With 19,785 active employees, the Bank is one of the biggest employers in Canada and a significant contributor to the country’s economy. Last year, the Bank paid close to $1.7 billion in salaries and employee benefits. In addition to offering competitive total compensation, the Bank provides a motivating work environment for its thousands of employees, as confirmed by the many distinctions1 it earned in 2011.
National Bank currently has the highest proportion of women in senior management positions of all the major Canadian banks, with 40.6%, and intends to continue its efforts to further the advancement of women at all levels. The Bank prides itself on maintaining an inclusive work environment by adapting its human resource practices and, year after year, developing new initiatives that foster diversity.
An uncompromising client experience
In 2011, the Bank introduced its new Client Value Proposition, the second phase of its “One client, one bank” transformation, which resulted in a series of concrete measures to improve and enhance the client experience. The launch of mobile banking solutions and the investment of over $34 million in renovating dozens of branches and extending business hours are just some of the initiatives aimed at ensuring that clients enjoy superior service in line with their expectations.
Major contributions to the community
National Bank plays an important economic role and seeks to contribute to the well-being of the communities it serves by actively supporting economic and social development. National Bank was very proud to announce in 2011 that it would be making an historic donation of $8 million over 10 years to the foundations of the Centre hospitalier de l’Université de Montréal and the McGill University Health Centre. Over the past year, the Bank donated more than $8.2 million to hundreds of Canadian organizations working in health, education, arts and community outreach, through its corporate donations program.
1 In 2011, National Bank made the following rankings: 50 Best Employers in Canada, Canada’s 10 Most Admired Corporate Cultures, Best Employers in the Greater Toronto Area, Canada’s Best Diversity Employers and Montreal’s Top Employers.
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. As at January 31, 2012, National Bank has over CDN$175 billion in assets in accordance with IFRS and, together with its subsidiaries, employs 19,785 people. The Bank’s securities are listed on the Toronto Stock Exchange (TSX: NA). For more information, visit the Bank’s website at www.nbc.ca. To access National Bank of Canada’s financial literacy portal, visit www.clearfacts.ca.
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