Bank of Canada Raises Interest Rates 25 Points and Admits Economy More Sensitive than Before

The Bank of Canada today increased its target for the overnight rate to 1 1/4 per cent. The Bank Rate is correspondingly 1 1/2 per cent and the deposit rate is 1 per cent. Recent data have been strong, inflation is close to target, and the economy is operating roughly at capacity. However, uncertainty surrounding the future of the North American Free Trade Agreement (NAFTA) is clouding the economic outlook.

The global economy continues to strengthen, with growth expected to average 3 1/2 per cent over the projection horizon. Growth in advanced economies is projected to be stronger than in the Bank’s October Monetary Policy Report(MPR). In particular, there are signs of increasing momentum in the US economy, which will be boosted further by recent tax changes. Global commodity prices are higher, although the benefits to Canada are being diluted by wider spreads between benchmark world and Canadian oil prices.

In Canada, real GDP growth is expected to slow to 2.2 per cent in 2018 and 1.6 per cent in 2019, following an estimated 3.0 per cent in 2017. Growth is expected to remain above potential through the first quarter of 2018 and then slow to a rate close to potential for the rest of the projection horizon.

Consumption and residential investment have been stronger than anticipated, reflecting strong employment growth. Business investment has been increasing at a solid pace, and investment intentions remain positive. Exports have been weaker than expected although, apart from cross-border shifts in automotive production, there have been positive signs in most other categories.

Looking forward, consumption and residential investment are expected to contribute less to growth, given higher interest rates and new mortgage guidelines, while business investment and exports are expected to contribute more. The Bank’s outlook takes into account a small benefit to Canada’s economy from stronger US demand arising from recent tax changes. However, as uncertainty about the future of NAFTA is weighing increasingly on the outlook, the Bank has incorporated into its projection additional negative judgement on business investment and trade.

The Bank continues to monitor the extent to which strong demand is boosting potential, creating room for more non-inflationary expansion. In this respect, capital investment, firm creation, labour force participation, and hours worked are all showing promising signs. Recent data show that labour market slack is being absorbed more quickly than anticipated. Wages have picked up but are rising by less than would be typical in the absence of labour market slack.

In this context, inflation is close to 2 per cent and core measures of inflation have edged up, consistent with diminishing slack in the economy. The Bank expects CPI inflation to fluctuate in the months ahead as various temporary factors (including gasoline and electricity prices) unwind. Looking through these temporary factors, inflation is expected to remain close to 2 per cent over the projection horizon.

While the economic outlook is expected to warrant higher interest rates over time, some continued monetary policy accommodation will likely be needed to keep the economy operating close to potential and inflation on target. Governing Council will remain cautious in considering future policy adjustments, guided by incoming data in assessing the economy’s sensitivity to interest rates, the evolution of economic capacity, and the dynamics of both wage growth and inflation.

Information note

The next scheduled date for announcing the overnight rate target is March 7, 2018. The next full update of the Bank’s outlook for the economy and inflation, including risks to the projection, will be published in the MPR on April 18, 2018.

TheBankerWhoSavedHisSoul Adds First Global Data to Coverage has added an up and coming Canadian FINTECH company First Global Data to companies covered on the website. First Global Data, publicly traded as V.FGD on the TMX in Canada and as FGBDF:US on the greys in the U.S.A., provides services to Financial Institutions and corporations in Different countries.

The company caught our attention as a result of its first to market products, aggressive expansion and signing of agreements with major players in countries, such as China, India, Africa, and Canada. Its partnerships include the likes of LianLian, a subsidiary of market leading WeChat in China.

About First Global Data Ltd. (

First Global is an international financial services technology (“FINTECH”) company. The Company’s two main lines of business are mobile payments and cross border payments. First Global’s proprietary leading edge technology enables the convergence of compliant domestic and cross border payments, shopping, Peer to Peer (“P2P”), Business to Consumer (“B2C”), and Business to Business (“B2B”) payments. First Global enables its strategic partners and clients around the world with our leading edge financial services technology platform.

First Global Data Granted Two Additional Transmitter Licenses in the U.S.A.

TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5

TORONTO, Oct. 10, 2017 /CNW/ – First Global Data (“First Global” or the “Company”) is pleased to announce that it has secured two additional Money Transmitter licenses in the USA.

First Global Data Limited (CNW Group/First Global Data Limited)

The Company’s wholly owned US subsidiary, First Global Money Inc., has been granted two new Money Transmitter licenses by the States of South Dakota and New Hampshire. First Global now has Money Transmitter licenses in 31 US States.

“We are very happy to have obtained these two money transmitter licenses and are proud to now have 31 in total. Obtaining licenses is not an easy task. Regulations are becoming stricter and this is very good news for First Global. We value our licenses and take the responsibilities that come with having them very seriously. We continue our focus on US wide licensing as the more State licenses First Global has, the larger the market opportunity for our services such as Happy Transfer launched on the WeChat social messaging platform with our China based partner LianLian; for the Company’s First Global Money international remittances services which delivers into Latin America, India, the Philippines and other very large markets; for domestic USA peer to peer and mobile payment services; and for additional cross border payment services the Company intends to provide to consumers across the USA”, said Andre Itwaru, Chairman and CEO of First Global Data Limited.

About First Global Data Ltd. (

First Global is an international financial services technology (“FINTECH”) company. The Company’s two main lines of business are mobile payments and cross border payments. First Global’s proprietary leading edge technology enables the convergence of compliant domestic and cross border payments, shopping, Peer to Peer (“P2P”), Business to Consumer (“B2C”), and Business to Business (“B2B”) payments. First Global enables its strategic partners and clients around the world with our leading edge financial services technology platform.


Neither TSX Venture Exchange Inc. (“TSXV”) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities offered in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward Looking Information:

This news release contains “forward-looking information” within the meaning of applicable securities laws. Although First Global believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because First Global can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. First Global undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of First Global, its securities, or financial or operating results (as applicable). First Global disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE First Global Data Limited

For further information: Andre Itwaru, Chairman and CEO, First Global Data Limited, email:; Renmark Financial Communications Inc., Steve Hosein:, Tel: (416) 644-2020 or (514) 939-3989,

Manulife Establishes Mental Health Specialist Team

A unique offering delivering faster and appropriate care for those with mental health conditions

Waterloo – Manulife Financial announced today the establishment of a national Mental Health Specialist team that will work with Disability Case Managers to guide the management of all mental health disability claims and help ensure appropriate treatment and support is in place. This is the first team of its kind in the Canadian insurance industry and all of the team members have extensive backgrounds in mental health. The team will be led by Dr. Georgia Pomaki, who has a Ph.D. in occupational mental health and a Masters in Clinical Psychology.

“According to the Mental Health Commission of Canada, 500,000 Canadians will miss work every day due to mental illness, costing the Canadian economy $51B annually,” said Kathy McIlwham, Vice-President, Group Life and Disability,  Manulife. “To address this significant concern and support our clients, we developed a Mental Health Specialist team that will guide and support our Disability Case Managers in the management of mental health disability claims – the leading cause of our long term disability claims.”

Mental health claims are a leading concern for Canadian employers as they account for an average of 30 per cent* of short and long term disability claims. Manulife embarked on a yearlong mental health pilot that saw a decrease in claim durations and recurrences. Focused oversight, coaching and expertise provided in the pilot lead to improved outcomes for claimants and employers. These are early indicators of the positive affect the team could have nationally for Manulife’s clients.

“I am proud to lead a specialized and committed team that is delivering excellent outcomes for our clients and their employees,” said Dr. Georgia Pomaki.  “As a mental health professional with over 10 years of experience in workplace mental health, I am very impressed with Manulife’s commitment to improving the mental health of Canadians by developing a national Mental Health Specialist team.”

This initiative aligns with Manulife’s strong commitment to mental health as part of a comprehensive health, wellness and disability strategy that covers the entire health continuum. This commitment to positive mental health has been recognized by the Mental Health Commission of Canada (MHCC), who recently accepted Manulife into a three-year pilot as an early adopter of the National Standard for Psychological Health and Safety in the Workplace – Prevention, Promotion, and Guidance to Staged Implementation.

Biography Dr. Georgia Pomaki, Vancouver
Dr. Georgia Pomaki received her Ph.D. in Occupational Mental Health in 2003 and her Clinical Psychology Master’s in 1998. Dr. Pomaki also received the designation of Certified Disability Management Professional (CDMP) in 2011. She has clinical experience in Cognitive Behavioural Therapy and family therapy. She has taught clinical courses extensively at universities at the graduate and undergraduate levels and is currently teaching a course on Mental Health in Disability Management at Simon Fraser University. Dr. Pomaki is also a lead author of the Best Practices for Return-to-Work/Stay-at-Work Interventions for Workers with Mental Health Conditions. Dr. Pomaki joined Manulife in 2011 and her current role involves leading the mental health specialists, implementing best practices and providing guidance and coaching to case managers on the management of psychological health claims.

*According to Mental Health Commission of Canada and the World Health Organization.

Media Contact:

Rebecca Freiburger
Manulife Financial

Article source:

National Bank of Canada New Chairman and Election Results

National Bank of Canada Announces Election of Directors: Jean Houde Named New Chairman of the Board

Montreal, 10 April 2014 –

National Bank of Canada (the “Bank”) (TSX: NA) announced today that each director nominee listed in the Management Proxy Circular dated February 21, 2014 was elected as Director of the Bank during the Annual Meeting of the Holders of Common Shares held today in Calgary, Alberta. In addition, Jean Houde becomes the new Chairman of the Board, replacing the outgoing Jean Douville who is retiring after serving as Chairman for some 10 years.

The details of the election are as follows:







Maryse Bertrand


158, 481, 341


1, 341, 100


Lawrence S. Bloomberg


158, 772, 401


1, 053, 027


Pierre Boivin


158, 814, 476


1, 010, 912


André Caillé


158, 320, 638


1, 504, 790


Gérard Coulombe


158, 112, 618


1, 712, 810


Bernard Cyr


158, 848, 844


976, 584


Gillian H. Denham


158, 289, 061


1, 536, 327


Richard Fortin


158, 885, 064


940, 364


Jean Houde


158, 046, 275


1, 779,153


Louise Laflamme


159, 483, 743


341, 685


Julie Payette


159, 291, 154


534, 274


Roseann Runte


158, 748, 381


1, 077, 047


Lino A. Saputo, Jr.


153, 946, 215


5, 879, 028


Pierre Thabet


159, 478, 887


346, 541


Louis Vachon


158, 664, 470


1, 162, 024



Marie-Pierre Jodoin
Senior Advisor – Public Affairs
National Bank

Manulife Asset Management Hires New Emerging Markets Debt Portfolio Management Team

Continues expansion of global debt and equity capabilities

Third addition of seasoned portfolio managers this year

Boston – Manulife Asset Management announced it has added a new Emerging Markets Debt portfolio management team, its third such addition of seasoned portfolio managers in as many months. Effective immediately, Roberto Sanchez-Dahl, CFA, and Paolo H. Valle have joined the firm as Managing Directors and senior portfolio managers; they will be members of Manulife Asset Management’s global fixed income team.

They will manage an emerging markets debt strategy for institutional clients and certain wealth management businesses of Manulife Financial and John Hancock, and will report to Christopher Conkey, Global Chief Investment Officer of Manulife Asset Management. The team will also support other global debt strategies investing in emerging market debt.

“We are very pleased to add portfolio managers of the caliber of Roberto and Paolo to our global fixed income team, and welcome them to Manulife Asset Management. Their well-defined investment process and disciplined approach to alpha generation in EM debt represents a strong cultural fit with our investment organization. We believe that emerging markets debt, along with other global debt and equity strategies, will continue to be key areas of interest for our clients and investors, offering diversification and potential for attractive long-term returns,” said Mr. Conkey.

Mr. Sanchez-Dahl most recently was with Federated Investment Management Company, since 2001 as an emerging markets senior portfolio manager, and as an investment analyst since 1997. He previously served as an associate in the Credit Department at Goldman Sachs in New York City, from 1994 to 1997. He began his career with Moody’s Investors Service in New York. He holds a BS in mechanical electric engineering from Universidad Nacional Autonoma de Mexico, an associate degree in corporate finance from Instituto Tecnologico Autonomo de Mexico, and an MBA from Columbia University in New York.

Mr. Valle served, since 2004, as a Vice President at Federated Investment Management and most recently was an emerging markets senior portfolio manager. Previously, he was Chief Investment Officer of Ramirez Asset Management in New York City, from 2001 to 2004. Prior to that, he was a managing partner with Valle Advisors, and a first vice president and Head of the Emerging markets and International Fixed Income group with Merrill Lynch Investment Management, both in Princeton, New Jersey. He holds an MBA from the University of Pittsburgh, and a BS in business administration from the Universidad del Pacifico in Lima, Peru.

The team’s disciplined approach has driven proven investment performance. As of March 31, 2013, eVestment ranked their emerging markets debt strategy in the top decile on a three-year basis, and top quartile on a five-year basis when evaluated in the Emerging Markets Fixed Income-Hedged universe1.

Manulife Asset Management’s new Emerging Markets Debt team is the firm’s third addition of portfolio management teams this year, helping to build out the firm’s product set and expand the depth and breadth of its global equity and fixed income teams.

1Note: Past performance is not indicative of future results.

About Manulife Asset Management
Manulife Asset Management is the global asset management arm of Manulife Financial. Manulife Asset Management provides comprehensive asset management solutions for institutional investors and investment funds in key markets around the world. Manulife Asset Management also provides investment management services to affiliates’ retail clients through product offerings of Manulife and John Hancock. This investment expertise extends across a broad range of asset classes including equity, fixed income and alternative investments such as real estate, timber, farmland, as well as asset allocation strategies.

Manulife Asset Management has offices with full investment capabilities in the United States, Canada, the United Kingdom, Japan, Hong Kong, Singapore, Taiwan, Indonesia, Thailand, Vietnam, Malaysia, and the Philippines. In addition, it has a joint venture asset management business in China, Manulife TEDA. It also has operations in Australia, New Zealand, Brazil and Uruguay. John Hancock Asset Management, Hancock Natural Resource Group and Declaration Management and Research are units of Manulife Asset Management. As at March 31, 2013, assets under management were C$252 billion. Additional information about Manulife Asset Management can be found at

About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Clients look to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$555 billion (US$547 billion) as at March 31, 2013. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.

Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at

Beth McGoldrick

Mortgage-Free Eventually: RBC Poll Finds Majority of Canadians Hope to Pay Off Their Homes by Retirement

Nearly three-quarters (72 per cent) of Canadians with a mortgage hope to bemortgage-free by the time they reach age 65, but one-third (33 per cent) of older Canadians, those over the age of 55, have 16 or more years left on their mortgage term, according to the latest RBC Housing Snapshot poll.

“Canadians want to be mortgage-free as they approach retirement age and beyond, but the reality is that it takes prudent planning and the right advice to stay on track,” said Claude DeMone, director of Strategy for Home Equity Financing, RBC. “Using flexible and accelerated payment options are an easy and pain-free way to help take years off your mortgage and save thousands of dollars in interest costs.”

Canadians overwhelmingly say that a low interest rate is the most important feature when choosing a mortgage (96 per cent). Almost nine-in-10 Canadians also say that accelerated payment options (85 per cent) and flexible payment options (88 per cent) are important and desirable features.

Looking ahead, the majority of Canadians expect steadyinterest rates in the next six to 12 months. Almost one-in-five Canadians (18 per cent) expect rates will rise less than one per cent. Just over a quarter of respondents (26 per cent) think interest rates will rise more than one per cent in the same time period.

“Though many Canadians expect interest rates to stay the same over the next year, they should still keep in mind that it’s important to build some wiggle room into your budget to prepare for any extra costs or future rate increases,” DeMone added.

With a firm belief that interest rates will stay relatively stable over the next year, the RBC poll shows Canadians are increasingly interested in using either a variable (29 per cent, compared to 19 per cent in the first quarter of this year) orfixed rate mortgage (46 per cent, compared to 40 per cent in the first quarter of this year). Interest in using a hybridmortgage (part fixed, part variable) has declined (25 per cent, compared to 41 per cent in the first quarter of this year).

DeMone offers the following mortgage advice that will help Canadians pay down mortgages faster and get the right one to meet their individual needs:

  1. “Stress test” your mortgage for rate increases.If you are concerned about affordability down the road, knowing what your payments would be with a one to three per cent rate increase will give you greater peace of mind that your new home is affordable both today and in a few years, when rates might be higher.
  2. Look beyond the interest rate and consider your prepayment options. Many closed mortgages allow you to double up a payment or pay a lump sum on your mortgage annually without prepayment charges. Prepayments are applied directly to the principal balance, helping to save thousands of dollars in interest costs over the life of the mortgage.
  3. Take advantage of early renewal options. Some mortgages allow you to renew up to 120 days before the end of your term. This means you can lock in your new mortgage rate early.

Poll highlights:

  • An equal amount of Canadians in the 35-54 age group plan to be mortgage-free by age 55 (39 per cent) or by age 65 (39 per cent).
  • Young Canadians (age 18-34) have the most aggressive views of when they will be mortgage-free (by age 35: 12 per cent; by age 45: 26 per cent).
  • Among Canadian homeowners, the number of mortgage-free Canadians has increased slightly to 41 per cent in the fourth quarter from 38 per cent in the first quarter, and the highest level since 2006.
  • Canadians ages 55 and over were more likely to expect interest rates to stay about the same in the next six to 12 months (55+ 60 per cent compared to the national average of 51 per cent).

One-third of younger Canadians (18-34: 34 per cent) anticipate a steeper increase in interest rates in the next six to 12 months.

Regional highlights for British ColumbiaAlbertaPrairies,OntarioQuebec, and Atlantic Canada are also available.

Canadians can visit the RBC Advice for advice on the costs associated with purchasing a home. The RBC Advice Centre is an online resource, with videos and interactive tools and calculators, that gives Canadians access to advice about all aspects of their finances including their homeownership goals – whether they are buying their first home, planning their next move, renovating or managing their current home financing. With the guidance of RBC mortgage specialists, Canadians have access to free, no-obligation professional advice and personalized one-on-one service about RBC mortgage products and services.

RBC is the largest residential mortgage lender in Canada. As the country’s number one source of financial advice on homeownership, RBC conducts consumer surveys as one way to provide insight to Canadians about the marketplace in which they live. These are some of the findings of the RBC Housing Snapshot poll conducted by Ipsos Reid between from October 6-14, 2011. The results are based on a sample where quota sampling and weighting are employed to balance demographics and ensure that the sample’s composition reflects that of the actual Canadian population according to Census data. Quota samples with weighting from the Ipsos online panel provide results that are intended to approximate a probability sample. An unweighted probability sample of 2,282 adults, with 100 per cent response rate, would have an estimated margin of error of ±2 percentage points, 19 times out of 20. The margin of error within subgroups of the sample will be higher.

– 30 –

For more information, contact:
Ka Yan Ng, RBC Communications
Matt Gierasimczuk, RBC Communications

RBC Donates $2.6 Million to 99 After-School Programs Across Canada

The RBC After-School Grants Project announced on November 17, 2011 that 99 community-based organizations across Canada will share $2.6 million in funding to provide after-school programs, including 15 new grant recipients. RBC has been supporting after-school programs since 1999, helping provide children with a safe, supervised environment for activities outside the classroom.

“Having funded 227 after-school programs since 1999, we know that children who participate in these programs have enhanced social skills and show increased motivation to excel in school,” said Shari Austin, vice-president, Corporate Citizenship at RBC. “We are very proud that our grants continue to help community-based organizations provide engaging activities that keep kids safe, inspire them to learn and grow, while alleviating some pressures for working families.”

RBC After-School Grant recipients represent a diverse range of community based organizations, and were chosen by members of the community. Each program will receive up to $40,000 from RBC. There are 15 first-time grant recipients, including:


  • Chilliwack Central Elementary School – A grant of $40,000 will help this downtown school provide a free after-school program to about 50 children, five days a week. Children can get help with homework, enjoy daily story time, visit the local library, participate in a formal fitness program, and receive art instruction.
  • KB Woodward Elementary School – A grant of $40,000 will help this school, located in Surrey where half of the residents are newcomers to Canada, provide a free, daily program for 30 children aged 6-12. Many other community partners are engaged to help deliver tutoring, ESL and literacy, athletics, arts and music programs, computer workshops and a science program.


  • The Airdrie Boys’ and Girls’ Club – A grant of $40,000 will help this organization start a new, daily after-school program for about 30 teens, aged 13-18. This program addresses a need for local children to have access to organized activities and homework help and will provide group and individual life skill development, a book club, and weekly volunteering opportunities.
  • The Cerebral Palsy Association – A grant of $40,000 will help this organization start a new after-school program for teens with disabilities. The funds will be used to purchase specialized equipment, develop programming and educational resources. Activities will include homework help, art, mentoring, healthy snacks, computers, music therapy, cultural trips and sports.


  • YMCA King George Community School – A grant of $34,000 will help provide a daily after-school program for 35 First Nations children aged 6-12, with culturally-sensitive activities as well as swimming lessons, tours, and activities at the YMCA.
  • Boys and Girls Clubs of Regina – A grant of $40,000 will help the Boys and Girls Club deliver free programming for 20 children, aged 7 to 14, in Regina’s inner-city, where youth face issues such as malnutrition, gangs, substance abuse and lack of access to social supports. Activities will focus on skill development and artistic expression in a safe environment.


  • Boys and Girls Clubs of Winnipeg, Aberdeen Club– A grant of $40,000 will help this organization deliver a free, daily after-school program to about 25 children aged 6-14, many of whom are Aboriginal. Activities will include organized sports, art and performing arts, homework help, computer instruction and environmental programs.


  • The Beyond 3:30 program/ Kane Middle School, Toronto – A grant of $40,000 will allow this organization, serving a neighbourhood where drop-out rates are increasing, to provide a free, daily after-school program to more than 40 children aged 11-14. The program will offer homework help, a Book Club, a Junior Chefs Club, sports, music activities, as well as provide a nutritious snack, and discussions about topics ranging from gardening to bullying.
  • Harmony for Youth, Sarnia – A grant of $40,000 will help this organization run an after-school program in a region where children often lack the resources and supports they need just to complete their homework. The free daily program will be open to 25 participants aged 4-18, and will provide tutoring, cultural activities, such as music, crafts, cooking, leadership skills, mentoring, nutritious snacks, computer support, and outdoor activities, ‘pay it forward’, and a bully-buster program.
  • Essa Public Library After School Program – A grant of $39,400 provides a daily after-school program for 40 children aged 8-13, including children from military families stationed at CFB Borden, who face additional challenges because of frequent moves from school to school. The program will provide daily homework help through peer-tutoring, physical activities and games, art and crafts, special guests, music and a nutritious snack.
  • Wasauksing First Nation – A grant of $40,000 will help this community provide a daily after-school program to 25 students aged 12-18. The program is intended to help students transition from a small elementary school to the nearby high school through activities that help build self-esteem in a safe environment. RBC’s funds will be used to provide activities requested by the youth themselves, including sports, homework help, hand drumming and dancing, leadership opportunities through Drum Chiefs and Drum Kwee, access to a computer lab and nutritious snacks.


  • Projet Harmonie, Montreal – A grant of $40,000 will help this organization provide a free, daily after-school program for 30 children aged 6-12. Children benefit from a range of activities including homework help, reading exercises, sports, music and even food-shopping expeditions to learn about the importance of good nutrition.
  • Centre communautaire Hochelaga, Montreal – A grant of $35,000 will help provide a daily after-school program for 25 participants aged 6 to 12. Children will get homework help and access to computers in a safe environment. The program also engages youth and seniors from the community so that participants can benefit from intergenerational connections.


  • Lower Sackville Boys and Girls Club, Nova Scotia– A grant of $35,000 will help provide a daily after-school program for 80 children aged 5-16. The funding will be used to add a new athletic program and math tutoring, to the current range of activities such as homework help, a reading club, swimming, arts and cultural activities, computer instruction and a science club.
  • Jello Tree After School Program, Shelburne County Youth Health and Support Association, Nova Scotia – A grant of $40,000 will help provide a free, daily after-school program for 30-35 participants aged 5 to 16. Activities include daily homework help, organized sports, art, leadership training, guitar, voice and song writing, as well as supervised time on computers, discussion groups/workshops by staff on topics ranging from addictions to healthy lifestyle choices, nutrition and bullying.

To be selected for a grant, after-school programs must offer structured and supervised activities for children between the ages of six and 17. The programs must focus on what RBC calls the “three Ss” — safety, social skills and self-esteem. RBC’s grants are used to provide a wide-range of activities including computer instruction, sports, literacy tutoring, music and art lessons, nutrition guidance, and homework help.

Since 1999, RBC has provided more than $25 million in grants to 227 after-school programs in Canada, helping more than 24,000 children.

– 30 –

For more information, please contact:
Jackie Braden, RBC Brand Communications, (416) 974-1724


“We are delighted to be recognized as a regional winner of this award,” said Grant Shaw, Vice President of HR, Strategy and Culture for National Leasing. “A strong culture is the foundation of our organization’s success and is at the forefront of all our initiatives. We build strong successful relationships with our customers by keeping our employees engaged and energized.”

This year, the number of nominated organizations grew by 60 per cent over 2010 and the number of organizations that proceeded with a formal submission to the program increased by 20 per cent.

Waterstone Human Capital held in-person interviews with senior executives from all submitting organizations this past summer. The program’s 26-member Board of Governors, which consists of top executives from many leading organizations across Canada, voted on the submissions and chose the regional winners at the end of September.

The Board of Governors for the Canada’s 10 Most Admired Corporate Cultures™ program will reconvene in November to select the national winners and the two special category national winners. National winners of Canada’s 10 Most Admired Corporate Cultures™ of 2011 will be celebrated at the seventh annual gala to be held on February 6, 2012 in Toronto.
About Canada’s 10 Most Admired Corporate Cultures™

Canada’s 10 Most Admired Corporate Cultures™ is founded and presented by Waterstone Human Capital, a leading retained executive search firm specializing in recruiting for fit and in cultural assessment. This national program, now in its seventh year, annually recognizes best-in-class Canadian organizations for having a culture that has helped them enhance performance and sustain a competitive advantage

About National Leasing
National Leasing provides sound financial solutions to businesses across Canada. We are a leader in commercial equipment leasing and are recognized as one of the largest Canadian lessors in small to mid-ticket transactions. Backed by professional service and an outstanding reputation, National Leasing is fast to respond, easy to work with and committed to meet our clients’ needs. National Leasing is a wholly owned affiliate of Canadian Western Bank. The common shares of Canadian Western Bank are listed on the Toronto Stock Exchange under the trading symbol “CWB”. For more information please visit or call us at 1-888-408-1966.

For media inquiries, contact:
Samantha Gorlick, Communications Coordinator, National Leasing, Phone: (204) 954-7373

Canadian Western Bank issues $150 million of Senior Deposit Notes

EDMONTON, November 4, 2011 – Canadian Western Bank (the “Bank”)(TSX: CWB) today announced the completion of a $150 million issuance of Senior Deposit Notes (“the Notes”) in the debt capital markets to a broad group of investors. Proceeds of the issue were added to the Bank’s general funds and will be utilized for general banking purposes.

The Notes bear interest on a fixed rate basis at 2.57%, paid semi-annually, representing a spread of 131.5 basis points above the benchmark Government of Canada instrument. The Notes will mature on November 4, 2014 and will not be redeemable prior to the maturity date. The current rating assigned by DBRS Limited on Canadian Western Bank’s deposits and senior debt is “A (low)” with a stable trend.

“We were very pleased with the success of this placement, which represented our second issuance of senior debt this year,” said Tracey Ball, the Bank’s Executive Vice President and Chief Financial Officer. “Selectively utilizing the debt capital markets is part of our strategy to further diversify the Bank’s funding base over time. It was great to see the strong level of interest expressed by the group of accredited investors who chose to participate in this offering.”

RBC Capital Markets and National Bank Financial acted as co-lead agents on the issue.

About Canadian Western Bank Group
Canadian Western Bank offers highly personalized service through 40 branch locations and is the largest publicly traded Canadian bank headquartered in Western Canada. The Bank specializes in mid-market commercial lending and offers a full complement of personal banking services. The Bank, along with its operating affiliates, National Leasing Group Inc., Canadian Western Trust Company, Valiant Trust Company, Canadian Direct Insurance Incorporated, Adroit Investment Management Ltd. and Canadian Western Financial Ltd., collectively offer a diversified range of financial services across Canada and are together known as Canadian Western Bank Group. The common shares of Canadian Western Bank are listed on the Toronto Stock Exchange under the trading symbol “CWB”. Refer to for additional information.

For Further Information Contact:
Kirby Hill, Director, Investor and Public Relations, External Communications Canadian Western Bank, Phone: (780) 441-3770