Montreal-headquartered National Bank has been the best performing amongst the group over the last five years, with its share price having more than doubled as the strength of the Quebec economy was reinforced by its acquisition of Canadian Western Bank (CWB), the eighth-largest bank, for $5 billion last year. National raised $1 billion in new equity to partially fund its expanding geographical reach and business lending exposure.
Income Investor
National remains a Buy for its steady growth driven by its takeover of CWB, conservative credit management, and growth in its investment management business. - Gavin Graham
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NA was first recommended here on December 21, 2023