acquisition of Canadian Western Bank Not for distribution to U.S. news wire services or for dissemination in the United States
- Aligned with National Bank’s strategic plan to accelerate growth across all its business lines in Canada
- Provides customers an expanded product and service offering nationally, extensive banking centre network and common customer experience culture
- Maintains branch footprint and Edmonton-based executive and operational presence
- Combination creates stronger competitor, and provides more choice for Canadians
- Concurrent subscription receipt offering of $1 billion
MONTREAL and EDMONTON, Alberta, June 11, 2024 (GLOBE NEWSWIRE) -- National Bank of Canada (“National Bank”) (TSX: NA) and Canadian Western Bank (“CWB”) (TSX: CWB) today announced they have entered into a definitive agreement (the “Agreement”) for National Bank to acquire CWB, a diversified financial services institution based in Edmonton, Alberta. The transaction brings together two complementary banks with growing businesses, enabling the united bank to enhance services to customers by offering a comprehensive product and service platform at national scale, with a regionally focused service model.
National Bank to accelerate domestic growth with the (globenewswire.com)