Assante Corp. today announced that National Bank of Canada has agreed to develop, on a non-exclusive basis, Assante-branded banking and financial products. Subject to regulatory approval, the company expects its offering of banking products and services will be available to clients by the fourth quarter of 2001.

Under the agreement, National Bank will develop and market deposit accounts, chequing services, debit cards, credit cards, personal lines of credit, investment and RSP loans, mortgage origination services and GICs. The products and services will be complemented by telephone banking, Internet banking and National Bank’s extended network of ABMs.

Réal Raymond, president, Personal and Commercial Banking at National Bank, said he is pleased to be working with Assante. “We are privileged to have this partnership with a key player in the financial services industry and look forward to providing the superior products and services that clients have come to associate with the Assante brand,” he said.

Martin Weinberg, president and CEO of Assante said, “Adding banking services to the company’s existing investment and service offerings will give clients a wide variety of providers to choose from and the convenience of having their complete financial portfolio in one place. With some of the services tied to Assante’s own investment products, Assante advisors will be able to offer a unique interest optimization service for their clients.”

Weinberg noted several other reasons for selecting National Bank as one of its partners including the bank’s leading-edge technology, favourable pricing models and excellent service standards. “We are pleased to embark on this initiative with a trusted partner. National Bank has managed and cleared our stock and bond trading for nearly a decade and is the primary custodian for our private wealth management clients.”