MONTREAL, May 3, 2013 /CNW Telbec/ - National Bank has been named one of the 20 strongest banks in the world by internationally renowned Bloomberg Markets magazine for the third year running. This is an exceptional accomplishment, further to the Bank's massive investments in its development and enhancing its client service offering.
"National Bank ended its most recent quarter with record-breaking financial performance in addition to having one of the best track records in Canada for loan losses. The latest ranking by Bloomberg Markets confirms that the Bank is well positioned to continue being a key economic and social driver for all its stakeholders," stated Louis Vachon, President and Chief Executive Officer.
Bloomberg based its ranking on the following five criteria: Tier 1 capital ratio; (2) non-performing assets to total assets; (3) loan loss reserves to non-performing assets; (4) stability, measured in terms of the ratio of deposits to funding; and (5) efficiency.
This distinction follows closely on the heels of Bloomberg Markets recognition of National Bank as one of the top 40 greenest banks in the world for a second consecutive year, and was earned as a result of the many partnerships National Bank has forged with organizations and businesses over numerous years to promote initiatives that further sustainable community development.
In recent months, the Bank also earned many accolades for the quality of its products and services, human resources management practices and social engagement, including the:
- Best Employers in Quebec (Aon Hewitt)
- Best Employer for New Canadians (Mediacorp Canada)
- Canada's Best Diversity Employers (Mediacorp Canada)
- Canada's 10 Most Admired Corporate CulturesTM (Waterstone Human Capital)
- 50 Best Employers in Canada (Aon Hewitt)
- Best Canadian Brands (Interbrand)
About National Bank of Canada
With $184 billion in assets as at January 31, 2013, National Bank of Canada (www.nbc.ca) together with its subsidiaries, forms one of Canada's leading integrated financial groups, and has been named among the 20 strongest banks in the world by Bloomberg Markets. The Bank has close to 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.
SOURCE: National Bank of Canada
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