National Bank of Canada (NA) NBF’s 24th Annual Financial Services Conference summary

Conference overview

• The 24th annual financial conference gathered institutions and corporates for two days of discussions on current economic and geopolitical issues, including the Iran situation, USMCA negotiations, and demographic trends impacting the economy.

• Key sessions included fireside chats with executives, a lunch event with the Superintendent of Financial Institutions, and economic outlooks from leading economists.

Macroeconomic and geopolitical insights

• Recent global events, such as Middle East tensions and inflation risks, are increasing recession concerns but have not altered the overall economic outlook.

• Canada’s government is seen as more engaged with business, focusing on productivity, energy, and global re-engagement.

• Calls for accelerating energy infrastructure, including LNG and Keystone, and reducing inter-provincial barriers were emphasized.

Regional and sectoral analysis

• Quebec’s economy is described as robust, with lower leverage, higher savings, and diversified manufacturing, making it resilient to trade tensions.

• Opportunities in critical minerals, hydro, and defense supply chains are highlighted as growth drivers for Quebec and Ontario.