National Bank recognized as the strongest bank in North America
Montreal, May 10, 2011 – National Bank Financial Group was named the strongest bank in North America and ranked third in the world in the June 2011 issue of the internationally renowned magazine Bloomberg Markets.
“This is a tremendous honour for the Bank and all those who contribute to its success. Year after year, the Bank and its employees take pride in being an engine of economic development and nurturing close ties with clients in order to better support them in carrying out their financial projects. Now that the Bank has been ranked among the best in the world, it is in a better position than ever to continue this work and create measurable wealth for all,” stated Louis Vachon, President and Chief Executive Officer.
Bloomberg ranked “The World’s Strongest Banks” based on five key criteria: (1) Tier 1 capital ratio, for which the Bank has one of the best ratios in the world; (2) nonperforming assets to total assets, an aspect of risk management for which the Bank is widely recognized; (3) loan loss reserves to non-performing assets, an area in which the Bank outperforms its competitors in Canada; (4) stability, measured in terms of the ratio of deposits to funding; and (5) efficiency (costs to revenue), which the Bank is continually improving through such initiatives as its “One client, one bank” transformation.
This accomplishment comes in the wake of several distinctions awarded to National Bank Financial Group recently, including the 50 Best Employers in Canada for 2011 (Hewitt Associates).
Senior Advisor – Public Relations
National Bank Financial Group
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. National Bank has over $152 billion in assets and, together with its subsidiaries, employs 18,407 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. To access National Bank Financial Group’s financial education portal, visit www.clearfacts.ca.
Innocap Investment Management Inc. (“Innocap”) is the result of 15 years of investments in HF strategies with approximately $2.3Bn in asset under advisory as at June 30th, 2011. Since May 2007, Innocap, a formerly wholly-owned subsidiary of National Bank of Canada, benefits from a strategic alliance between the latter and BNP Paribas. Innocap acts as the Investment Advisor to Innocap Global Investment Management Ltd, which manages a Malta-domiciled collective investment scheme licensed as a Professional Investor Fund.
Innocap offers hedge fund managed account solutions using a conservative approach to hedge fund investing with a strong emphasis on transparency, asset control and effective risk management. Greater transparency and control of the assets go hand in hand and help substantially reduce the risk of fraud. At the same time risk management goes beyond simple risk measurement; the power to act, if required, is critical.
The firm’s activities can be classified into three business lines:
- The Direct Access Program.
- The actively managed fund of managed accounts.
- The quantitative alternative investment solutions.
Learn more about the value of Innocap’s managed fund solution by visiting www.innocap.com.