National Bank Sees Strong Growth in Commercial Banking and Private Banking

National Bank of Canada outlined its growth plan at the Barclays 24th Annual Global Financial Services Conference. The bank's integration of Canadian Western Bank is on track, with revenue and expense synergies meeting or beating targets.

The commercial banking division posted strong loan and deposit growth in the third quarter, driven by specialty, mid-market, and larger corporate clients. Private Banking 1859 remains a key differentiator for the bank, with a Net Promoter Score of 78 and 2,500 additional common clients shared with commercial banking.

National Bank is also focusing on artificial intelligence, using it to lift productivity across front-office and back-office work. The bank sees a large opportunity in business transfers and succession planning, particularly in Western Canada where nearly half of mid-market business owners are expected to retire within the next decade.