Jump to content

Banque canadienne nationale

Add links
From Wikipedia, the free encyclopedia
(Redirected from Banque Canadienne Nationale)
Banque canadienne nationale
FormerlyBanque d'Hochelaga (1873–1924)
IndustryBanking
Founded3 May 1873 (1873-05-03)
Defunct1 November 1979 (1979-11-01)
FateMerged with the Provincial Bank of Canada
SuccessorNational Bank of Canada
Headquarters500 Place d'Armes,
Montreal, Quebec

The Banque canadienne nationale (French pronunciation: [bɑ̃k kanadjɛn nɑsjɔnal]; lit. 'Canadian National Bank') was a Canadian bank that existed from 1873 to 1979. The bank was founded in Montreal in 1873 as the Banque d'Hochelaga and began operations the following year. In 1924, the bank renamed itself the Banque canadienne nationale after it took over the Banque nationale. In 1979, it merged with the Provincial Bank of Canada to form the National Bank of Canada.[1]

History

[edit]
The bank's 1965 headquarters on Place d'Armes in Montreal, designed by David, Barott & Boulva.

Banque d'Hochelaga, 1873–1924

[edit]

In 1873, several Montreal French-Canadian businessmen founded Banque d'Hochelaga, including François-Xavier Saint-Charles, Louis-Amable Jetté, Frédéric-Liguori Béique and Louis Tourville.[2][3]

The bank opened branches in Montréal, Sherbrooke and St-Jérôme.[4]

Like the other Canadian chartered banks, it issued its own paper money.[5] In 1934, the Bank of Canada was established as Canada's central bank through the Bank of Canada Act, and the commercial banks lost the right to issue their own currency.

After modest beginnings, the bank expanded substantially around 1900. At the end of World War I, Banque Nationale (based in Quebec City), Provincial Bank of Canada (Banque Provinciale) and Banque d'Hochelaga all competed to serve the French-speaking Quebec market.

In 1924 an unarmoured bank vehicle carrying silver was robbed and a bank employee killed.[6]

After financial reverses during a recession hurt the Banque Nationale at the beginning of the 1920s, it agreed to merge with Banque d'Hochelaga to form Banque Canadienne Nationale, with assistance provided by the Quebec provincial government. The merger was completed in 1924.[7] The headquarters of the merged bank was in Montreal. The Provincial Bank chose not to participate in the merger.

In 1859, several prominent Quebecers founded the Banque Nationale in Quebec City as a banking institution controlled by French-speaking businessmen.[8]

Banque canadienne nationale, 1924–1979

[edit]

After financial reverses during a recession hurt the Banque Nationale at the beginning of the 1920s, it agreed to merge with Banque d'Hochelaga to form Banque Canadienne Nationale, with assistance provided by the Quebec provincial government.In 1859, several prominent Quebecers founded the Banque Nationale in Quebec City as a banking institution controlled by French-speaking businessmen.[8] The merger was completed in 1924.[7] The headquarters of the merged bank was in Montreal. The Provincial Bank chose not to participate in the merger.

In 1924, the Banque Nationale, which was struggling financially while caught-up in a serious recession,[9] merged with the Banque d'Hochelaga (founded in Montreal in 1874) to create the Banque Canadienne Nationale (BCN, Canadian National Bank).[10][11] The Quebec provincial government, under Alexandre Taschereau, issued $15 million in bonds to facilitate the merger.[12]

Like the other Canadian chartered banks, BCN issued its own paper currency until the Bank of Canada Act of 1934 created the Bank of Canada and it relinquished this right.

In 1968, Banque Canadienne Nationale was one of the four original banks to form CHARGEX Ltd. through a licence from BankAmericard, providing Canada with its first interbank credit card.[13]

In 1979, Banque Canadienne Nationale and the Provincial Bank of Canada (Banque provinciale du Canada), another Quebec-based bank, joined to form the National Bank of Canada.[10][14]

Leadership

[edit]
  1. 1874-1878: Louis Tourville
  2. 1878-1900: François-Xavier Saint-Charles
  3. 1900-1912: Jean-Damien Rolland
  4. 1912-1925: Janvier-A.Vaillancourt

See also

[edit]

References

[edit]
  1. ^ Nos banques à charte et nous-- : Banque canadienne nationale, Banque provinciale du Canada (in Canadian French). Conseil d'expansion économique. 1961. OCLC 48163144.
  2. ^ Dictionary of Canadian Biography. Springer Science & Business Media; 1966. ISBN 978-0-8020-3998-9. p. 918–.
  3. ^ Montreal: The History of a North American City. MQUP; 6 April 2018. ISBN 978-0-7735-5269-2. p. 503–.
  4. ^ Stelter, Gilbert A.; Alan F. J. Artibise (1982). Shaping the urban landscape: aspects of the Canadian city-building process. Ottawa: Carleton University Press Inc. p. 79. ISBN 0-88629-002-3. Retrieved December 27, 2011.
  5. ^ Heritage Signature Auction. Central States Numismatic Society Convention. April 27-28, 2006. Columbus, Ohio. Ivy Press. March 2006. p. 225. ISBN 9781599670416. Retrieved December 27, 2011. Photograph of a proof of a Banque d'Hochelaga banknote.
  6. ^ Alain Messier. Georges Farah Lajoie: Le détective venu d'Orient. 14 August 2014. ISBN 978-2-7659-0170-9. p. 145–.
  7. ^ a b Pierre Harvey. Histoire des Hautes études commerciales de Montréal, Tome II - 1926-1970. Québec Amerique; 2002. ISBN 978-2-7644-1524-5. p. 99–.
  8. ^ a b Jean-Marie Lebel. Le Vieux-Québec: guide du promeneur. Les éditions du Septentrion; 1997. ISBN 978-2-89448-083-0. p. 72–.
  9. ^ Legacy: How French Canadians Shaped North America. McClelland & Stewart; 8 November 2016. ISBN 978-0-7710-7241-3. p. 86–.
  10. ^ a b Sawyer, Deborah C. (20 October 2014). National Bank of Canada. Retrieved 2017-02-14. ...Banque Canadienne Nationale (founded in 1859 as the Banque National; merged 1924 with Banque d'Hochelaga and new name adopted 1925) and The Provincial Bank of Canada (founded in 1861) {{cite book}}: |work= ignored (help)
  11. ^ Québec, 1900-2000: le siècle d'une capitale. Éditions MultiMondes; 2000. ISBN 978-2-89544-008-6. p. 79–.
  12. ^ Les grands débats parlementaires, 1792-1992. Presses Université Laval; 1994. ISBN 978-2-7637-7357-5. p. 292–.
  13. ^ Sean Hickey. Confessions of an International Banker. Trafford Publishing; 8 March 2013. ISBN 978-1-4669-7380-0. p. 46–.
  14. ^ Canada Since 1945: Power, Politics, and Provincialism. University of Toronto Press; 1989. ISBN 978-0-8020-6672-5. p. 299–.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Banque_canadienne_nationale&oldid=1275347880"