May 29, 2006 14:03 ET

National Bank of Canada and UniCredit Group Sign Cooperation Agreement to Offer Services in Central and Eastern Europe

MONTREAL, QUEBEC--(CCNMatthews - May 29, 2006) - National Bank of Canada (TSX:NA) is pleased to announce that it has signed a cooperation agreement with UniCredit Group. As a result of the agreement, National Bank business clients will now have access to the services UniCredit Group provides in the countries of Central and Eastern Europe, Russia, Turkey and Ukraine.

This agreement with one of Europe's premier financial institutions will enable National Bank to better assist commercial clients in their dealings with their counterparts in 16 countries, chief among them Poland, the Czech Republic, Hungry, Croatia, Romania, Bulgaria, Russia, Ukraine, Turkey and the Baltic States.

"Partnering with this major European group, which serves over 28 million clients in 19 countries, should make it possible to serve our own clients even better in a region of the world where business opportunities are becoming increasingly lucrative," explained Tony Meti, Senior Vice-President u Commercial Banking and International at National Bank.

"Following on the heels of the agreement signed with Standard Chartered Bank, the arrangement with UniCredit Group is part of a strategy that will likely see National Bank conclude similar agreements with banks in other countries with the objective of assisting business owners with overseas expansion," Mr. Meti added.

Listed on the Milan Stock Exchange, UniCredit Group is one of Europe's largest banks in terms of market capitalization (more than EUR 60 billion, or CDN $86.4 billion). It operates 7,000 branches, employs 140,000 people and has EUR 787 billion (CDN $1,133 billion) in total assets. The group is a banking services leader in the countries covered by this agreement.

About National Bank of Canada

National Bank of Canada is an integrated group which provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. National Bank has more than $110 billion in assets and, together with its subsidiaries, employs 16,955 people. The Bank's securities are listed on the Toronto Stock Exchange (NA:TSX). For more information, visit the Bank's website at

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  • National Bank of Canada
    Denis Dube
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    (514) 394-8644