The Canadian Press

National Bank of Canada (TSX:NA) will make major investments in its branch network and employee training this year as the Quebec-based bank seeks to attract new business and grow market share, shareholders heard Wednesday.

President and CEO Louis Vachon told the annual meeting the bank will complete the simplification and standardization of internal processes and gradually use a new information technology system that will allow employees to better manage customer information.

National said such projects are intended to generate immediate gains in client satisfaction, sales growth and cost cutting.

“We believe our current strategic direction is perfectly in tune with an environment of slow growth in a mature market and we are determined to press ahead with our plans,” Vachon told the meeting in Montreal.

A copy of his remarks was released by the bank.

National Bank employs nearly 18,000 people and has more than $134 billion in assets under management. In the last two years, it has been boosting efforts to streamline operations, boost its branch network and and improve service to its corporate and other customers in Quebec.