Press Releases

National Bank a key player in a sound and dynamic banking system

Montreal, 10 May 2005 -

“Canadian lending and deposit-taking institutions are turning in excellent profits and that’s good news for everyone – shareholders, clients, employees and the community,” explained Michel Tremblay, Senior Vice-President – Personal Banking and Wealth Management of National Bank of Canada in an address to members of Montreal’s Chambre de commerce de la Pointe-de-L’Ile.

During his presentation about the changing face of the Canadian banking system, Mr. Tremblay demonstrated that banks are a key driver of economic activity. They must be sound in every respect, “ first and foremost because they are the gateway to the payments system, but also because they maintain financial system liquidity by providing transaction accounts and operating loans to companies and consumers. This kind of liquidity is only afforded by lending and deposit-taking institutions, with banks leading the way,” he added.

Mr. Tremblay also stated that, « in this highly competitive market, National Bank’s success can be attributed to its keen understanding of its clients, its knack for forging strong relations with them and its ability to offer an extensive line of products and services under one name. We firmly believe that when it comes to the consistent and coherent delivery of financial services, no financial institution can match National Bank in Quebec. That’s a competitive edge we are intent on keeping.”

Senior Vice-President – Personal Banking and Wealth Management and a member of National Bank’s Executive Committee since March 2002, Michel Tremblay oversees all Retail Banking operations, including product manufacturers and distribution channels.  He is also in charge of directing the operations of the Bank’s Wealth Management business line.

About National Bank
National Bank of Canada is an integrated group which provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its customers elsewhere in the world. National Bank offers a full array of banking services, including 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 more than $90 billion in assets and, together with its subsidiaries, employs close to 17,000 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.

Information (The telephone number provided below is for the exclusive use of journalists and other media representatives):

Denis Dubé
Manager, Public Relations
National Bank of Canada
Tel.: (514) 394-8644