MONTREAL, April 24, 2013 /CNW Telbec/ - National Bank is proud to be holding its Annual Meeting of Shareholders for the first time ever in New Brunswick, where it has had a presence for more than 100 years. Louis Vachon, President and Chief Executive Officer of National Bank, presented a very positive picture of the 2012 fiscal year during his speech at the Capitol Theatre in Moncton.
"Once again, the Bank posted record financial results, as well as deployed different initiatives in order to roll out the red carpet for our clients. We also made the largest corporate donation in our history for the next generation of entrepreneurs, and we have reiterated our support for young people with our "One for Youth" program, stated Mr. Vachon.
He wrapped up his speech by mentioning that the Bank is well positioned to grow in the current climate of moderate economic expansion in 2013: "National Bank is a unique institution and we are approaching this fiscal year with the same desire to continue making a valuable contribution to economic and social development in Quebec and across Canada."
In 2012, National Bank continued playing its role as a strong economic and social driver for all of its stakeholders. Here are a few examples:
For its shareholders
- Record net results and an 11% dividend increase.
- Solid performance in our three main business lines - Personal and Commercial Banking, Wealth Management and Financial Markets.
For its clients
- $55 billion in debt financing granted to businesses across the country.
- Invested more than $25 million to upgrade its branch network, with 25 improvement initiatives carried out in 2012.
- Extended business hours, with 150 branches open on Saturdays throughout the year.
For its employees
- $1.9 billion paid in salaries and benefits to its nearly 20,000 employees, as part of its competitive total compensation program.
- Recognized in many rankings as a top employer1.
For the community
- The Bank kept up its tradition of promoting tomorrow's entrepreneurs by making a $10 million donation—the largest in its history—to Campus Montréal (which consists of HEC Montréal, Polytechnique Montréal and Université de Montréal). The funds will go toward the creation of an entrepreneurship centre.
- The Bank also launched its "One for Youth" Program, which aims to help young people, from birth to adulthood, reach their full potential.
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 was named among the five 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.
1 In 2012, National Bank appeared in the following rankings: Canada's 10 Most Admired Corporate CulturesTM; 50 Best Employers in Canada; Canada's Best Diversity Employers; Best Canadian Brands; World's Strongest Banks; Best Employers in Quebec.
SOURCE: National Bank of Canada
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