National Bank of Canada Management Proxy Circular now available

MONTREAL, March 3, 2016 /CNW Telbec/ - National Bank of Canada (TSX: NA) announced today that its Notice of the Annual Meeting to be held on April 15, 2016 in Montreal and its Management Proxy Circular have been filed with securities regulators and will soon be mailed to shareholders. The Circular is available at www.nbc.ca/en/about-us/investors/investor-relations/annual-meeting.html.

The Circular includes detailed information on the Bank's Annual Meeting, the director nominees and the Board's approach to executive compensation for the fiscal year ended October 31, 2015. All of this year's director nominees are currently National Bank directors. Lawrence S. Bloomberg, Louise Laflamme and Roseann Runte will not be seeking to renew their mandates.

"On behalf of the Bank's shareholders and employees, I would like to sincerely thank Mr. Bloomberg, Ms. Laflamme and Ms. Runte for their dedication and valued contribution to the Board of Directors over the years," stated Jean Houde, Chairman of the Board of Directors.

This year, 38% of the Bank's director nominees are women—a proportion that exceeds the one‑third target set by the Board of Directors. The Bank was in fact commended for its diversity practices by Catalyst in 2015.

A solid financial performance

Once again this year, the Bank stood out for its steady growth, reflecting sustained performance across all sectors. In 2015, the Bank generated close to $6 billion in revenues, over $1.6 billion in net income and return on equity of 17.6%. Furthermore, in December it announced another increase of its quarterly dividend to $0.54 per share.

"In 2015, the Bank turned in solid results and pursued a strategy adapted to the current business context, in particular by stepping up its transformation to better meet all of its clients' needs," stated Jean Houde. "The Bank also expanded its footprint in high-growth markets abroad by acquiring equity interests in well‑established institutions. What's more, it has a strong presence in Quebec and Ontario, where the prospects for the coming years are good."

Given the Bank's performance and the extent to which its objectives were achieved, the Board of Directors approved total direct compensation of $7,824,392 for Louis Vachon, President and Chief Executive Officer, for fiscal 2015.

During the Annual Meeting, National Bank's Board of Directors will again submit its approach to executive compensation to a shareholder advisory vote, a practice that the Bank was one of the first to adopt in Canada.

The Circular also contains information on the Board of Directors and its committees, the election of directors and the appointment of the independent auditor as well as shareholder proposals.

About National Bank of Canada
With $219 billion in assets as at January 31, 2016, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. The Bank has close to 20,000 employees and is widely recognized as a top employer. The Bank's securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media such as Facebook, LinkedIn and Twitter.

SOURCE National Bank of Canada

(The telephone numbers provided below are for the exclusive use of journalists, other media representatives and shareholders.) Claude Breton, Vice-President - Public Affairs and Investor Relations, National Bank of Canada, Tel.: [phone]; Hélène Baril, Senior Manager - Investor Relations, National Bank of Canada, Tel.: [phone]