More Growth for First Nations Bank of Canada

More Growth for First Nations Bank of Canada

Monday, January 10, 2011 at 15:12

The First Nations Bank of Canada is reporting another year of growth for its 2010 fiscal year.

Chief Executive Officer Keith Martel says loan volumes grew by more than 20 per cent to more than $195 million with total assets reaching nearly $300 million.

A full service branch opened in Iqaluit in 2010 as well, making it the seventh full-service branch.

Martell says there likely won’t be further branch expansion until 2012.

He says currently the bank has outsourced its banking platform from TD Bank – the bank which helped open First Nations bank in 1996 – and says this year the focus will be on moving to a separate, strictly First Nations Bank platform.