National bank

National Bank

National Bank Of Canada- All you Need to Know

The national bank of Canada has got its head office in Montreal. It was started in the year 1979 as a charted bank. Later on, this bank, combined with other bank named as Banque Canadienne Nationale and emerged a new bank named as the provincial Bank of Canada in the year 1861.

Later on in the year 1981, this bank bought the Laurentide Mortgage Corporation that was more inclined and specialize in load operation related to Mortgage. In the year 1986 again, it took over another bank named Mercantile Bank of Canada. 

Finally, now it owns approximately 67% of Levesque Beaubien Geoffrion Inc. which is said to be Canada’s one of the largest brokerage houses. And at last, today it works as a general bank and also provides financial services. It has got over 600 branches and offices spreader all over Canada. In the year 1997, its net income was calculated to be $342million, $232billion assets with approximately 16000 employ 2.4 million clients.

This bank operates in four segments of business that are- Wealth management, Personal and commercial, financial markets and US specialty finance and international. National Bank of Canada is among the six systematically important banks. It has got its clients from Europe, Asia, and more places from across the world.

International Presence

It has its offices in the major areas of the world like New York, London, Hong Kong, Paris, Shanghai, and more. It helps in the development of their Canadian business clients and helps conduct business in Canada by many foreign companies.

It has got its international trade specialist in the offices that are built-in foreign countries and they provide many services like supply chain finance, management of cash, and more. to serve better to all its clients all around the world, it relies on its networks of banks.

In Quebec it the investment bank leader. The Canadian debt securities and the equities are sold by this bank to the US and also internationally. In the year 2016, it issues Panda Bonds in the Chinese market and became the first North American financial institute to do so. 

ASEAN region-

In the few past years, it has made a strategy for the present emerging markets. It is also a shareholder in the financial institutes of Mauritius, Mongolia, and Cote d’Ivoire. It has now targeted this region for the growth of emerging markets. With two subsidiaries it is a shareholder in the following countries of ASEAN-

  • ABA Bank(Cambodia)- In Cambodia, it provides commercial and also banking services and products. It also has helped Cambodia’s third-biggest branch network and has got 2000 employs that are serving nearly 150000 clients over there. It was given the title of “the bank of the year” in the year 2016 and was also given the title by Euro money and Global finance as the best bank of Cambodia.
  • Ronoc Asia/OnGo(Myanmar)- It is Myanmar’s top mobile payment company and NBC is a shareholder of it.
  • ATA IT(Thailand)- This NBC subsidiary was built in Bangkok. It is an IT hub and gives services and supports the emerging markets banks.

Key goals of CABC

  • Education- Their first aim is to educate all of their members about the trade of Canada and ASEAN and the potential opportunities in it. They also provide resource help to companies so that they always make the correct choices
  • Networking- This bank makes and then maintains and grows all the commercial interests in Canada-ASEAN. They aim to give a high quality of networking events and give opportunities to build and grow
  • Advocacy- This company works hand in hand with the ASEAN that includes the 10 countries and all these are challenging and also have potential opportunisms. They maintain good relations with all these countries by providing them resources and helping them to make better decisions.

Events

They have also done a lot of events in countries like Bangkok in 2015, JAtakara in 2016 and so on for bettering their networking. Their upcoming event includes the EMTECH ASIA 2020 that will be held on 04 of August in Singapore.

Few words of Edward Fast

Edward B. Fast once said that to strengthen Canada they have to tie up to Southeast Countries and they are doing it and keeping on growing on those places. Further, he added that more developments would be done that will be more inclined towards Canada’s investments and trade with the ASEAN countries and this is the fastest-growing region and has a GDP of $2.1 trillion.

Some other Aims and purposes

Here are some more purposes of the CABC that are mentioned below-

  • Accelerate economic growth and grow socially and culturally. Make a good partnership to make a strong foundation for the good community of Southeast Asian Nations.
  • Promote regional stability plus peace and bind to the rules and regulations for the maintenance of relations with the countries.
  • Active collaboration in matters like common interest in the field like technology, culture, social, economics, and more.
  • They also assist by giving training and research facilities for the sphere including education, technology administration, and profession. 
  • They also try to make efficient collaboration so that they could make use of the resources of agriculture and other industries. They try to get to the problems of international commodities trade, and others and then solve them efficiently.
  • The CABC makes and maintains a close and beneficial relationship with the current international and also regional organizations.

All these aims help them to make better and beneficial relations with the countries and establish themselves more securely in those regions.

Bottom line

Here was every information that one can know about the CABC or Canada ASEAN banking council. This is a growing bank that has now established itself in many countries like Myanmar, Columbia, Thailand, Singapore, Philippines, and more that are called as ASEAN countries. This company was started in Canada and has its headquarters there itself but now has spread its branches all over the world and conducts many events to maintain better relations with those countries.