National Bank CEO Ferreira Touts the Company’s Focus on Canada

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National Bank of Canada is leaning into its domestic focus, with Chief Executive Officer Laurent Ferreira saying that “Canada’s our playground.”

Barry Schwartz, chief investment officer and portfolio manager at Baskin Wealth Management, joins BNN Bloomberg to discuss National and Royal Bank earnings.

The Montreal-based bank sees plenty of room to grow within the country and hopes to complete its planned acquisition of Edmonton-based Canadian Western Bank early next year, Ferreira said Wednesday at the Bloomberg Canadian Finance Conference in New York. That deal will increase National Bank’s physical footprint in Western Canada by six times, he said, adding that there’s also room for the firm to do more lending outside of its home province of Quebec.

National Bank, the smallest of Canada’s six largest banks, has seen some of its peers face challenges with international investments. Toronto-Dominion Bank last week pleaded guilty to a raft of money-laundering charges in the US and will pay almost $3.1 billion in fines.

 

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