Good core profitability and capital adequacy Strong presence in retail and leading midmarket commercial market lending in Quebec Strong credit quality metrics supported by prudent underwriting and lower than peers' exposure to unsecured consumer lending High concentration of loans in Quebec, albeit declining High exposure to wholesale funding although not dissimilar to domestic peers National Bank of Canada (NBC) benefits from an established retail and commercial banking franchise in its home province of Quebec. It ranks No. 1 in business banking among Quebec-based financial institutions. The bank is concentrated in Quebec where over 50% of revenues are originated; however, its strategy to expand wealth management and specialized commercial banking businesses outside Quebec and Credigy in the U.S. helps to diversify
