First National Financial LP

Annual Reports

2020 at a Glance


Borrowers served by First National in 2020 across Canada, an increase of 10% from 2019.


The number of full-time First National employees at year end, reflecting 18% year-over-year growth in our workforce to meet customer needs.

$118.7 BILLION

Mortgages under administration (MUA) – the source of most of the Company’s earnings – reached this milestone at year end 2020, a 7% increase over 2019.


Revenue in 2020 grew 4% to a new annual record, despite the dampening effect of lower interest rates.

$190.2 MILLION

Record net income in 2020 ($3.12 per share) reflected higher origination and wider mortgage spreads.


The after-tax, Pre-Fair Market Value1 return on shareholders’ equity in 2020 demonstrates the efficiency of the First National business model.

$148.4 MILLION

Value of common share dividends declared in 2020, bringing the cumulative total to $1.5 billion ($25.80 per share) since the Company’s initial public offering in 2006.


Total shareholder return between our IPO in 2006 and December 31, 2020.