Canadian Western Bank shares soar after National Bank tie-up announced

CWB shares were up $17.61 at $42.50 on the Toronto Stock Exchange on Wednesday. National Bank shares were down $6.31 at $110.03.

The deal announced after the close of trading on Tuesday will see Quebec-focused National Bank expand its geographic reach in Alberta and British Columbia, where CWB is concentrated. CWB is expected to maintain its branch locations as well as its Edmonton-based leadership and operations. The deal comes just months after Royal Bank closed its $13.5-billion purchase of HSBC Canada in the country's largest-ever domestic banking deal.This report by The Canadian Press was first published June 12, 2024.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

National Bank to buy Canadian Western Bank at $5 billion valuationCanada's banking sector is facing further consolidation as National Bank of Canada has reached an all-share deal to acquire Canadian Western Bank that values the lender at about $5 billion.
Source: CTVNews - 🏆 1. / 99 Read more »

National Bank to buy Canadian Western Bank at $5 billion valuationMONTREAL — Canada's banking sector is facing further consolidation as National Bank of Canada has reached an all-share deal to acquire Canadian Western Bank that values the lender at about $5 billion.
Source: SooToday - 🏆 8. / 85 Read more »

National Bank to buy Canadian Western Bank at $5 billion valuationMONTREAL — Canada's banking sector is facing further consolidation as National Bank of Canada has reached an all-share deal to acquire Canadian Western Bank ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »