Annual Meeting of Shareholders of National Bank of Canada: A Strong Business Vision and Excellent Results
National Bank held its Annual Meeting of Shareholders today in Drummondville, the economic hub of Central Quebec that is celebrating its bicentennial this year.
Present in Drummondville since 1912, the Bank has contributed to the region's vitality by helping clients power their ideas thanks to the hard work and dedication of some 250 employees and Investment Advisors. The region is served by 14 branches, three securities brokerage offices and a Commercial Banking Centre.
During the Meeting, Louis Vachon, President and Chief Executive Officer, highlighted the Bank's outstanding performance in fiscal 2014. In fact, the Bank outperformed all of Canada's domestic systemically important banks with a total shareholder return (including dividends) of 21.3%.
In fiscal 2015, National Bank intends to pursue its strategic business priorities, which focus on providing a distinctive client experience and expanding the Bank's super-regional model. To do so, the Bank's management team plans to forge closer ties with clients in its core markets and expand its footprint in select niche markets where it has posted strong growth. The Bank will also continue to develop internationally by making targeted equity investments. This approach involves identifying geographic markets with attractive long-term growth potential and investing, in a disciplined manner, in well-established institutions so as to jointly build a strong regional presence. In recent months, the Bank has acquired interests in institutions located in Asia and Africa.
"Our major social contribution is another source of pride for the Bank. Our extensive donations and sponsorships program makes a real difference for numerous organizations that support young people, artists, entrepreneurs and hospital patients, among others. In addition, the Bank paid $659 million in taxes and other contributions last year, which is equivalent to 30% of its pre-tax income. We are extremely proud to be doing our part to help the communities we serve," said Louis Vachon.
44% of Board seats held by women
With the addition of Andrée Savoie, President and Managing Director of Acadian Construction Limited, to the slate of directors elected at the Annual Meeting, 44% of the Bank's directors are now women. This high level of representation, along with the fact that 42% of management positions are held by women, confirms National Bank's leadership in terms of gender diversity Canada-wide. National Bank is also a signatory of the Catalyst Accord, an initiative that brings together a number of large corporations and aims to increase the number of women on corporate boards of directors in Canada.
About National Bank of Canada
With $214 billion in assets as at January 31, 2015, National Bank of Canada (www.nbc.ca), together with its subsidiaries, forms one of Canada’s leading integrated financial groups. The Bank has more than 20,000 employees and is widely recognized as a top employer. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank’s activities via social media and learn more about its extensive community involvement at clearfacts.ca and commitment.nationalbank.ca.
Information (The telephone number provided below is for the exclusive use of journalists and other media representatives.):
Vice-President – Public Affairs and Investor Relations