LONDON, ON, Aug. 12, 2021
/CNW/ - 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 August Conference on Wednesday, August 18, 2021 at 2:00 p.m.
ET. 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.
During the Conference, Mr. Taylor will also participate in a
panel entitled, Who is Leveraged to a Growing Crypto
Ecosystem? on Tuesday, August 17,
2021 at 4:15 p.m. ET, during
which he will discuss VersaBank's announced intention to
launch a revolutionary, highly-encrypted digital deposit offering,
VCAD, with each VCAD unit representing a one-dollar deposit with the Bank. Facilitated by
state-of-the-art blockchain technology, VCAD is easily
transferable, enabling it to be used as a digital currency, with
the highest level of stability and security amongst digital
currencies available today, with each VCAD represented by a deposit
with an investment-grade issuer. A webcast of the panel
discussion will also be available in the investor relations section
of VersaBank's website at www.versabank.com on the "Quarterly
Info, Events and Presentations" page and a replay of the panel
discussion 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 addition to VCAD, in his general 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.
Mr. Taylor will also discuss the significant growth opportunity
for VersaBank's wholly-owned, Washington,
DC-based subsidiary, DRT Cyber Inc. ("DRT Cyber"). DRT
Cyber's VersaVault is the world's first digital bank vault for
securing cryptocurrency, blockchain-based assets and highly
sensitive digital documents. Recently, DRT Cyber 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 Cyber'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 Cyber 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 trade under
the symbol VB.PR.A.
Visit our website at: www.versabank.com
Follow VersaBank on Facebook, Instagram, LinkedIn and Twitter.
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SOURCE VersaBank