National Bank to offer Standard Chartered Bank’s Gateway Product to Asia and the Middle East
Montreal, 27 April 2006 -
National Bank of Canada (NA-TSX) is pleased to announce a correspondent arrangement with Standard Chartered Bank that will give its business clients access to the many international and domestic services offered by this organization, particularly in emerging countries in Asia and the Middle East.
Our arrangement with this prestigious international bank will make it easier for National Bank business clients to open local currency accounts, access financing and treasury management services and obtain market information in 16 countries, including China, Hong Kong and India, as well as throughout Southeast Asia.
“Standard Chartered’s Gateway Product will allow us to better accompany our clients in developing their business overseas. They will be able to benefit from the strength of an international banking group with in-depth knowledge of local markets and professional client management,” explained Tony Meti, Senior Vice-President – Commercial Banking and International at National Bank.
“This arrangement forms part of a strategy that will see National Bank conclude similar alliances with banks in other countries, all with the objective of assisting business owners with their overseas expansion,” added Mr. Meti.
Listed on both the London Stock Exchangeand the Stock Exchange of Hong Kong, Standard Chartered PLC is among the 25 largest companies on the FTSE-100 in terms of market capitalization. With assets of US$215 billion in 2005, it employs over 44,000 people in more than 1,200 branches and offices in 56 countries worldwide.
About National Bank
National Bank of Canada is an integrated group that provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. National Bank offers a full array of banking services, including corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management, as well as mutual fund and retirement plan management. National Bank has more than $105 billion in assets and, together with its subsidiaries, employs 16,993 people. The Bank’s securities are listed on the Toronto Stock Exchange (NA: TSX). For more information, visit the Bank’s website at www.nbc.ca.
Information (The telephone number provided below is for the exclusive use of journalists and other media representatives):
Director – Public Relations
National Bank of Canada
Tel.: (514) 394-8644