National Bank Acquiring Digital Education Savings Company Embark Student

09:11 AM EST, 11/06/2026 (MT Newswires) -- National Bank (NA.TO) said on Friday that it is acquiring digital education savings company Embark Student for CA$226 million. Embark manages Registered Education Savings Plans (RESP) for 436,000 beneficiaries and has more than CA$6 billion in assets under management. The transaction expands National Bank's reach in Ontario and Western Canada, boosts its retail banking franchise and advances its digital strategy, a statement said. It is expected to reduce the bank's Common Equity Tier 1 ratio by 10 basis points upon closing. National Bank shares closed down CA$5.01 at CA$213.95 Thursday on the Toronto Stock Exchange.