About National Bank
With $462 billion in assets as
at October 31, 2024, National Bank of
Canada is one of Canada's six systemically important banks. The
Bank has approximately 30,000 employees in knowledge-intensive
positions and operates through three business segments in Canada:
Personal and Commercial Banking, Wealth Management and Financial
Markets. A fourth segment, U.S. Specialty Finance and International,
complements the growth of its domestic operations. Its securities
are listed on the Toronto Stock Exchange (TSX: NA). Follow the
Bank’s activities at nbc.ca or via
social media.
About CWB
CWB is the only full-service bank in
Canada with a strategic focus to meet the unique financial needs of
businesses and their owners. CWB provides its nationwide clients
with full-service business and personal banking, specialized
financing, comprehensive wealth management offerings, and trust
services. Clients choose CWB for a differentiated level of service
through specialized expertise, customized solutions, and faster
response times relative to the competition. CWB people take the time
to understand its clients and their business, and work as a united
team to provide holistic solutions and advice.
As a public company on the TSX, CWB trades under the symbols
"CWB" (common shares), "CWB.PR.B" (Series 5
preferred shares) and "CWB.PR.D" (Series 9 preferred
shares). CWB is firmly committed to the responsible creation of
value for all its stakeholders and its approach to sustainability
will support its continued success. Learn more at www.cwb.com.
FORWARD-LOOKING INFORMATION
From time to time,
National Bank and CWB make written and verbal forward-looking
statements. Statements of this type are included in this press
release and may be included in filings with Canadian and U.S.
securities regulators or in other communications such as media
releases and corporate presentations. Forward-looking statements in
this press release may include, but are not limited to, statements
regarding the expected benefits of the transaction, National Bank’s
integration of CWB and the expected closing date of the transaction.
Forward-looking statements are typically identified by the words
“believe”, “expect”, “anticipate”, “intend”, “estimate”, “may
increase”, “may impact”, “goal”, “focus”, “potential”, “proposed”
and other similar expressions, or future or conditional verbs such
as “will”, “should”, “would” and “could”.
By their very nature, forward-looking statements involve numerous
assumptions and are subject to inherent risks and uncertainties,
which give rise to the possibility that National Bank’s and/or CWB’s
predictions, forecasts, projections, expectations, and conclusions
will not prove to be accurate, that National Bank’s and/or CWB’s
assumptions may not be correct, and that National Bank’s and/or
CWB’s strategic goals will not be achieved. Assumptions underlying
forward-looking statements included in this press release also
include the satisfaction of the remaining conditions to closing of
the transaction and timing of completion of the transaction.
Forward-looking statements in this press release are based on a
number of assumptions and are subject to risk factors, many of which
are beyond National Bank’s and CWB’s control and the impacts of
which are difficult to predict. These risk factors include, but are
not limited to, National Bank’s inability to successfully integrate
CWB upon completion of the transaction; the possible delay or
failure to close the transaction; the potential delay or failure to
realize the anticipated benefits from the transaction; National
Bank’s reliance upon publicly available information of CWB;
potential undisclosed costs or liability associated with the
transaction; National Bank or CWB being adversely impacted during
the pendency of the transaction; and assumptions about future
events, including economic conditions and proposed courses of
action, based on National Bank and CWB management’s assessment of
the relevant information available as of the date hereof; and
National Bank’s and CWB’s ability to anticipate and manage the risks
associated with these factors. It is important to note that the
preceding list is not exhaustive of possible factors.
Additional information about certain factors and additional risk
factors can be found in the “Risk Management” section of CWB’s 2024
Annual MD&A, in the “Risk Management” section of National Bank’s
2024 Annual Report, as well as in other reports and documents filed
by National Bank and CWB with securities regulators or securities
commissions from time to time and other documents that National Bank
and CWB makes public. These and other factors should be considered
carefully, and readers are cautioned not to place undue reliance on
these forward-looking statements as a number of important factors
could cause CWB’s and/or National Bank’s actual results to differ
materially from the expectations expressed in such forward-looking
statements. Any forward-looking statements contained in this press
release represent CWB’s and National Bank’s views as of the date
hereof. Unless required by law, neither CWB or National Bank
undertake to update any forward-looking statement, whether written
or verbal, that may be made from time to time by or on behalf of CWB
or National Bank. CWB and National Bank caution investors that these
forward-looking statements are not guarantees of future performance
and that actual events or results may differ significantly from
these statements due to a number of factors.
