Financial Services
Quebec’s dominant player has changed its name from National Bank of Canada to simply National Bank, which may tell us its sights are set on the world stage and not the rest of Canada. It is well regarded in Quebec as the market leader that represents the province’s interests. The brand’s mobile banking offering was recognized as number one among the top six banks, which supports its positioning as a mobile leader. But in a one-step-forward-two-steps back move, National Bank allowed CIBC to leap ahead by becoming the first Canadian bank to launch mobile payment apps. National Bank invested in its brand through a website and visual identity overhaul. It has also been investing in a range of Corporate Citizenship initiatives, with a focus on financial literacy and youth initiatives. For the ninth year, National Bank was recognized as one of the “50 Best Employers in Canada” and one of “Canada's Best Diversity Employers,” which demonstrates the bank’s commitment to strong internal branding. With almost a century and a half of history in a marketplace that fully understands the brand, National Bank may have become too comfortable. Perhaps leadership doesn’t feel the need to stand up and declare what National Bank stands for and why it’s relevant – in Quebec, across the rest of Canada, or around the entire world. It should. National Bank is a strong and impressive financial institution that we should all know more about.
Percentage change based on 2012 valuation