First Nations Bank Continues To Expand

Tuesday, October 30, 2007 at 14:28



Profitability is allowing the First Nations Bank of Canada expand into more communities.


The bank first opened in Saskatchewan 11 years ago, and now also has branches in Ontario, Quebec, Manitoba and the Yukon.


Executive Chairman Keith Martel says the next expansion slated to happen will take place next year when the bank establishes a branch in Meadow Lake.


Martel notes the bank has been expanding its business in that region for some time.


In 2009, a branch will open in Nunavut. And in 2010, a branch will open in the Northwest Territories.


Martel says this is the seventh year in a row the bank has turned a profit.


He also says it has a growth rate of 30 per cent per year.