National Bank of Canada

Montreal, Canada

The National Bank of Canada is a major banking institution offering a broad range of financial services including personal banking, commercial banking, and investment services. It is known for its strong commitment to innovation and community engagement.

CCI Score

-6.34

April 18

Latest Event

CEO Advocates National Economic Reforms

National Bank of Canada's CEO Laurent Ferreira called for a 'Buy Canada Act' and full tax reform during a speech in Montreal, arguing that Canadian businesses need protection and reduced regulatory burdens to counter growing US protectionism and spur domestic competitiveness.

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COLLABORATOR

National Bank of Canada is currently rated as a Collaborator.

-5 to -9 CCI Score

In this category, companies align with authoritarian practices mainly to avoid trouble or regulatory conflict. Their compliance is driven by self-preservation, resulting in minimal resistance even as they participate in oppressive systems.

Latest Events

JAN

23

2025

CEO Advocates National Economic Reforms
58.61

National Bank of Canada's CEO Laurent Ferreira called for a 'Buy Canada Act' and full tax reform during a speech in Montreal, arguing that Canadian businesses need protection and reduced regulatory burdens to counter growing US protectionism and spur domestic competitiveness.
+60

Executive Political Engagement

April 18

The CEO's public political engagement—advocating for a 'Buy Canada Act' and tax reform—signals a proactive defense of Canadian economic sovereignty in response to US trade pressures. While his call to lower capital gains taxes may favor entrepreneurial interests, his stance is seen as a measure to protect domestic production and potentially safeguard local workers, aligning with an anti-authoritarian, nationalist economic approach.

National Bank CEO Calls for Buy-Canada Rules - BNN Bloomberg
OCT

29

2023

National Bank of Canada Job Cuts in Capital Markets Division
-43.15

The National Bank of Canada announced layoffs in its capital markets division, reducing staff in the equity research and sales and trading teams as part of a restructuring effort to manage business needs and cost pressures.
-50

Labor Relations and Human Rights Practices

April 18

The decision to cut jobs in the crucial Capital Markets division signals a move that undermines worker security, which is critical from a labor rights perspective. Despite provisions for severance, the layoffs can negatively affect employee welfare and contribute to broader economic instability for workers.

National Bank of Canada cuts several jobs in Capital Markets Division in 2023
OCT

21

2023

NBC Pilots Blockchain for Streamlined Transactions
34.44

National Bank of Canada announced a blockchain pilot project in partnership with CGI and blockchain startup Skuchain to simplify and secure transaction processing by replacing outdated email-based processes with smart contracts, enhancing transparency and efficiency for commercial clients.
+40

Technology and Services Impact

April 18

The bank’s initiative to leverage blockchain technology demonstrates a progressive move towards increasing transparency and security in its financial transactions. By replacing inefficient email-based processes with smart contracts, NBC is taking a step that could reduce opacity in financial operations, aligning with anti-authoritarian values that favor decentralization and enhanced accountability.

National Bank of Canada Pilots Blockchain to Combat 'Complex' Processes
OCT

05

2023

National Bank of Canada Lobbying Activity
-34.29

The CBC analysis reveals that National Bank of Canada, as one of Canada's six largest banks, filed 23 communication reports detailing its lobbying efforts with federal government officials on issues ranging from taxation to consumer protection. Such activity, while legal, underscores the bank's participation in practices that can skew political influence in favor of corporate interests.
-40

Political Contributions and Lobbying Efforts

April 18

Lobbying activities, as evidenced by filing 23 communication reports, demonstrate active engagement in influencing policy and decision‐making. Although legal, such behavior reinforces the disproportionate influence of corporate interests in political processes, aligning with authoritarian-friendly practices.

Banking industry has lobbied officials, MPs hundreds of times
SEP

30

2023

National Bank's Restructuring Leads to Major Workforce Reductions
-42.81

National Bank of Canada announced a $128 million after‐tax restructuring charge and significant job cuts as part of its cost‐efficiency drive in the wake of digitalization pressures, raising concerns over worker rights and job security.
-50

Labor Relations and Human Rights Practices

April 18

The bank's decision to execute a restructuring plan with a $128 million after-tax charge and corresponding workforce reductions compromises worker rights and economic security. From an anti-fascist lens, aggressive cost-cutting that leads to significant job losses prioritizes profit over the welfare of employees and undermines labor stability.

National Bank warns of $128 million restructuring charge, as it cuts jobs and moves staff
SEP

30

2023

Human Rights Complaint Filed Against National Bank of Canada
-51.37

A Black man in Brossard filed a complaint with the Canadian Human Rights Commission alleging racial discrimination at a National Bank branch. The incident involved security guards detaining him without evidence, and the bank’s subsequent gestures of compensation, which the complainant found insulting, highlight serious concerns regarding the bank's handling of racial discrimination claims.
-60

Labor Relations and Human Rights Practices

April 18

The event exposes a failure in upholding human rights standards, with allegations of racial discrimination and an inadequate remedial response from the bank. This reflects a troubling lapse in ethical business practices and commitment to anti-racist values.

Human rights complaint filed against National Bank for racial discrimination
SEP

21

2023

NBC CEO outlines stance amid tariff threats by Trump
34.16

At the National Bank Economic Forum in Montreal on September 21, 2023, CEO Laurent Ferreira addressed the challenges of negotiating with US President Donald Trump over potential tariffs. Ferreira emphasized the need for Canada to maintain a firm stance and to develop new strategies for boosting national productivity and protecting its key industries, reflecting a clear resistance to the aggressive and unpredictable policies of an authoritarian leader.
+40

Executive Political Engagement

April 18

The CEO's remarks, delivered in a high-profile public forum, signal a robust and independent approach in the face of Trump’s aggressive economic tactics. By calling for a firm Canadian stance and proactive measures, the leadership exhibits an anti-authoritarian mindset that resists the imposition of arbitrary tariffs and challenges policies associated with authoritarian governance. This engagement under the 'Executive Political Engagement' category reflects a positive, anti-fascist political behavior.

National Bank CEO says negotiating with Trump won't be easy, calls for a new plan to boost productivity