National Bank of Canada Prioritizes Profitable Growth Over Aggressive Expansion
National Bank of Canada's CEO Laurent outlined the bank's strategy at Scotiabank's 27th Annual Financials Summit on September 9, 2026. The focus is on profitable growth through high-quality clients, rather than aggressive pricing or market share grabs.
The bank aims to maintain a CET1 ratio of about 13% by the end of fiscal 2027 and an ROE above 17%. Capital Markets delivered record results for a third straight quarter, while Canadian P&C Banking saw some margin pressure due to faster mortgage growth than deposit growth.
Laurent emphasized that the bank is focused on net interest income growth, not just net interest margin expansion. The shift in Ottawa over the past year has been positive for business engagement and banks, but U.S.-Canada trade tensions are creating anxiety and may slow investment and labor market activity.