National Bank of Canada
NA: XTSE (CAN)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| ?>Z | LOCK|<!G^R | LOCK|dktB?zL |
Macro Uncertainty Remains a Headwind for National Bank of Canada in 2025
Business Strategy and Outlook
National Bank of Canada is the sixth-largest Canadian bank, and this group of six banks collectively holds over 90% of the nation's banking deposits. The bank is the most Canadian-focused of the Big Six, with roughly 73% of its revenue derived from Canada in 2024. National Bank of Canada also has the most concentrated branch network in Canada among the Big Six, primarily located in Quebec, although this is set to change somewhat after the closing of its acquisition of Canadian Western Bank in February 2025.
United States