Investor Relations

Corporate Profile & Strategy

Corporate Profile

A Schedule I Chartered Bank with a safe, low risk and high quality loan portfolio

VersaBank is a commercial, branchless financial institution, and one of the foremost technologically proficient banks in the country.

The Bank’s Head Office is in London, Ontario, with its Deposit Operations based in Saskatoon, Saskatchewan. Its Lending Operations are in London, Saskatoon, and Vancouver, which provide financing coast to coast, throughout Canada.

Lending Strategy

The Bank lends to well established corporations and the real estate development sector.

Since VersaBank has no branches, and in order to maintain our lower operating costs, our strategy in providing financing to our target markets is to partner with existing channels of distribution which already have strong client relationships established.

As part of this effort, we identified all of the well-known finance and leasing companies throughout Canada who have these existing relationships. Rather than competing, it proved more cost-effective and advantageous to partner with them, since we are complementary to one another. Where the finance companies have the existing relationships, we have the most effective tool their account managers require – low cost funding – something they may not have previously been able to access. As their account managers bid on corporate and public sector transactions, they would now be able to utilize VersaBank lower-cost funding. This ultimately has enabled their account managers to win more high quality and competitive tenders. And we offer this to the many well-known finance and leasing companies, coast to coast. In essence, we have extended account managers servicing our entire target markets without bearing the overhead costs associated with setting up and sustaining such a significant operation.

This relationship has proven so efficient, we now also partner with many of these same leasing companies to purchase the portfolios of leases they generate, as part of our Bulk Finance Program.

Deposit Strategy

VersaBank’s target market for our Deposit products is retail depositors, reached through a nationwide network of deposit brokers consisting of over 100 organizations who distribute our GICs. This list includes many of Canada’s large bank-owned brokerage firms, as well as a host of large, mid-size and smaller investment firms, enabling us to access retail deposits coast to coast.

VersaBank is publicly traded on the Toronto Stock Exchange, listed as: VB

The Bank’s fiscal year end is October 31. Please see Securities for more details. Please see Financial Results to view or download VersaBank’s financial statements. The Corporate Profile, additional financial and other information on VersaBank is available on SEDAR.