The Toronto Stock Exchange and the Office of the Superintendent of Financial Institutions Canada approved National Bank of Canada's normal course issuer bid to purchase for cancellation up to 6 million common shares.

As previously reported, the normal course issuer bid is set to begin June 5 and end no later than June 4, 2018. Purchases can be made through the Toronto Stock Exchange or any other exchange trading systems in Canada. The normal course issuer bid will help manage the bank's capital and generate shareholder value.

As of May 23, National Bank of Canada had 341,517,603 issued and outstanding common shares.

The bank also appointed National Bank Financial Inc. as designated broker.