National Bank of Canada FI invests in EVO Payments

Monday 10 April 2023 11:27 CET | News

The National Bank of Canada FI has announced its purchase of shares in the Evo Payments company, in order to mitigate risk and improve its development process.

Following this investment, the National Bank of Canada aimed to provide its services and solutions in order to improve EVO Payments’ future development prospects. The financial institution took into consideration the economic uncertainty that was caused in the last couple of years by the presence of the Covid-19 pandemic. 

Furthermore, the deal reinforces investors’ responsibility as fiduciary individuals, as it prioritises the process of maximising long-term gains for its unit holders while using sector-specific research. This is made and informed by its deep understanding of the regulations and overall global markets. It also provides customers that consider long-term investments across various asset classes with valuable insights and data on how to navigate the complex financial landscape that is present today. 

EVO Payments represents a leading payment technology and service provider that was designed to enable businesses and companies to accept, process, as well as manage credit card payments securely. The investment from the National Bank of Canada will offer EVO Payments the capability to improve and strengthen its services, as well as to focus on its sustainable socio-economic development. 

According to the press release, the fourth-quarter acquisition was aimed to purchase a new position, which was worth more than USD 3 million in total (USD 3,519,000). The investment represents the bank’s strategy to remain focused on securing profitable returns in order to mitigate all the possible risks that might appear in the process of growing its portfolio of services and solutions. 

The National Bank of Canada FI has announced its purchase of shares in the Evo Payments company, in order to mitigate risk and improve its development process.


National Bank of Canada’s strategy of development

The National Bank of Canada offers its customers multiple services and solutions, such as credit cards, borrowing tools, insurance, mortgages, and accounts, among other products focused on savings and investments, opening bank accounts, and customer service.  

Businesses can benefit from numerous products as well, including financing services, investing credit cards, banking solutions, as well as tools that are aimed to improve their international relationships and development. Companies also have the possibility to ask for advice on multiple topics, like money and finances, sales and marketing, operations, human resources, technologies, or transfers. 

At the beginning of April 2023, the bank reported a 156% increase in its stake in the fintech company Nuvei

The institutional investor appeared to own at the moment approximately 607,779 shares of the company’s stock, after adding an extra 370,350 shares in the fourth quarter of 2022. The growth marked a positive development in the strategies of both parties involved in the deal. The National Bank of Canada FI owned 0,43% of Nuvei’s net worth which was estimated to value USD 15,419,00 by the end of Q1 2023. 

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Keywords: acquisition, investment, online banking, digital banking, banks, risk management, fraud management
Categories: Banking & Fintech
Companies: Bank of Canada, Evo Payments
Countries: Canada
This article is part of category

Banking & Fintech

Bank of Canada


Evo Payments

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