|
|
|
|
|
|
|
|
|
|
The Banque canadienne nationale was a Quebec-based bank in Canada.
In 1859, several prominent Quebecers founded the Banque Nationale in Quebec City as a banking institution controlled by French-speaking businessmen and dedicated to promoting their interests.
In 1924, the Banque Nationale, which was caught up in a serious recession, merged with the Banque d’Hochelaga (founded in Montreal in 1874) to create the Banque canadienne nationale (BCN, Canadian National Bank).[1] Like the other Canadian chartered banks, it issued its own paper money. The Bank of Canada was established through the Bank of Canada Act of 1934 and the banks relinquished their right to issue their own currency.
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.
In 1979, the National Bank of Canada was formed as a result of the amalgamation of Banque canadienne nationale and the Provincial Bank of Canada (Banque provinciale du Canada), another Quebec-based bank.