National Bank of Canada

Title: National Bank of Canada
Category: Finance
Clicks: 2
Added on: Nov 26, 2011
The National Bank of Canada is a financial institution that features a wide selection of business and personal banking services. Its main competitors in the banking sector are Toronto Dominion, Laurentian Bank of Canada, and others.

To become a dynamic financial establishment, the bank took some important steps, opening doors in Quebec City in 1860. Members of the bourgeoisie who were of Anglophone origin participated in the share capital of the bank, but francophones held seats on and retained control over the Board of Directors. In 1924, negotiations with Banque d’Hochelaga lead to a merger and an agreement to create Banque Canadienne Nationale. In 1968, the bank worked with other financial institutions to launch the first credit card, Chargex, issued by a financial institution in Canada.

Today, the National Bank of Canada offers a wide variety of financial services to its individual clients. It features line of credit accounts and transaction accounts and special accounts and packages depending on the client’s field of activity or profession (e.g. dentist, nurse, psychologist, etc.) Mortgages, credit cards, and personal loans are among the borrowing solutions offered by the National Bank. Clients of the bank who look into investment products can choose from capital-protected investments, RRSPs, asset management, and other investment solutions.

Business clients of the bank enjoy a wide selection of financial products, including investment and savings accounts, insurance products, payroll and HR services, and day-to-day banking, among others. Business clients can choose from long-term, medium, and short-term financing, including letter of guarantee, short term loans, and Canada Small Business Financing. Export financing is offered as well, and exporters can take advantage of a number of support services necessary to expand their operations on foreign markets. Insurance products offered by the National Bank of Canada come in a large variety, including loan insurance, employer/ employee group insurance, business transfer financing, and many others. Business clients can choose from a selection of investment solutions, depending on their requirements. There are short-term, medium, and long-term investment instruments on offer, as well as group retirement plans. Clients can choose from customized investment funds, bearer term note, private investment management, and others.
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