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Laurentian Bank splits: National Bank buys retail, Fairstone takes commercial in C$4.05B deal.
Laurentian Bank of Canada agreed to a split sale: Fairstone Bank will acquire its commercial operations for C$1.9 billion, while National Bank of Canada will take over retail and small business divisions, including loans and deposits.
The deal, valued at C$40.50 per share, marks a strategic shift for Laurentian to focus on commercial real estate and capital markets.
National Bank’s acquisition includes C$3.3 billion in retail loans and C$7.6 billion in deposits.
The transaction, pending regulatory approval and shareholder vote, is expected to close in early 2026.
Laurentian’s name and Montreal headquarters will remain, with employees retaining jobs.
Shares rose 18% to C$39.91 following the announcement.
El Banco Laurentian se divide: el Banco Nacional compra al por menor, Fairstone toma comercial en un acuerdo de C $ 4.05B.