LONDON, ON, March 19, 2021
/PRNewswire/ - VersaBank ("VersaBank" or the "Bank") (TSX: VB), a
leader in digital banking and cyber security solutions, today
announced that David Taylor,
President and Chief Executive Officer, will present (virtually) at
the Investor Summit March Conference on Tuesday, March 23, 2021 at 11:00 a.m. EDT. A webcast of the
presentation will be available in the investor relations section of
VersaBank's website at www.versabank.com on the "Quarterly
Info, Events and Presentations" page. A replay of the
presentation will be available on the same page of the web site
following the event.
VersaBank will also be participating in virtual one-on-one
meetings at the Conference. Institutional investors
interested in scheduling a one-on-one meeting should contact
Sasha Murray at
sasha@investorsummit.com or Lawrence Chamberlain at
lawrence.chamberlain@loderockadvisors.com.
In his presentation, Mr. Taylor will discuss VersaBank's highly
efficient, low-risk digital banking operations, which have
generated a compounded annual growth rate in net income of 23% over
the past six years based on the Bank's development and application
of its proprietary software to address unmet needs in the banking
industry. VersaBank's digital banking operations are poised for
continued outsized growth as its existing lending channels
experience a significant increase in loan origination activity and
the Bank prepares for the launch of its third lending channel based
on its proven software, which will enable it to enter the
$200 billion Canadian home financing
market.
VersaBank also recently announced it plans to launch a strong
encryption based digital currency (cryptocurrency) represented
one-to-one by a Canadian dollar bank deposit with the Bank, to be
known as VCAD. VCAD is expected to be the first digital currency to
represent a fiat currency, as well as the first in the world
digital currency issued by and backed by deposits with a North
American bank. As such, VCAD will offer the highest level of
stability and security amongst all digital currencies in the market
today.
Mr. Taylor will also discuss the significant growth opportunity
for VersaBank's wholly-owned, Washington,
DC-based subsidiary, DRT Cyber Inc. ("DRT"). DRT's
VersaVault is the world's first digital bank vault for securing
cryptocurrency, blockchain-based assets and highly sensitive
digital documents. Recently, DRT acquired North American IT
security assurances services leader, Digital Boundary Group, as it
builds a comprehensive suite of innovative cyber security solutions
that address high-demand, underserved segments of this rapidly
growing market.
DRT's Chief Operating Officer, Gurpreet
Sahota, previously spent 16 years at BlackBerry, where he
helped build and implement its industry-leading cyber security
architecture. DRT is chaired by the Honorable Tom Ridge, the first
US Secretary of Homeland Security.
ABOUT VERSABANK
VersaBank is a Canadian Schedule I chartered bank with a
difference. VersaBank became the world's first fully digital
financial institution when it adopted its highly efficient
business-to-business model using its proprietary state-of-the-art
financial technology to profitably address underserved segments of
the Canadian banking market in the pursuit of superior net interest
margins while mitigating risk. VersaBank obtains all of its
deposits and provides the majority of its loans and leases
electronically, with innovative deposit and lending solutions for
financial intermediaries that allow them to excel in their core
businesses. In addition, leveraging its internally developed IT
security software and capabilities, VersaBank established wholly
owned, Washington, DC-based
subsidiary, DRT Cyber Inc. to pursue significant large-market
opportunities in cyber security and develop innovative solutions to
address the rapidly growing volume of cyber threats challenging
financial institutions, multi-national corporations and government
entities on a daily basis.
VersaBank's Common Shares trade on the Toronto Stock Exchange
under the symbol VB and its Series 1 Preferred Shares and Series 3
Preferred Shares trade under the symbols VB.PR.A and VB.PR.B
respectively.
Visit our website at: www.versabank.com
Follow VersaBank on Facebook, Instagram, LinkedIn and
Twitter.
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SOURCE VersaBank