National Bank of Canada

NA: XTSE (CAN)

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National Bank of Canada Should Generate More Expense Savings From Canadian Western Bank in 2026

Maoyuan Chen

Dec 12, 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 81% of its revenue derived from Canada in 2025. The pending acquisition of Laurentian Bank’s Retail/SME banking portfolios and syndicated loan portfolio will add some incremental Canadian revenue exposure to National Bank of Canada.

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