09:23:22 EDT Sat 11 May 2024
Enter Symbol
or Name
USA
CA



Laurentian Bank of Canada
Symbol LB
Shares Issued 43,479,868
Close 2023-07-17 C$ 43.38
Market Cap C$ 1,886,156,674
Recent Sedar Documents

Globe says Northpoint seen as key to Laurentian sale

2023-07-18 07:38 ET - In the News

Also In the News (C-BMO) Bank of Montreal
Also In the News (C-BNS) Bank of Nova Scotia
Also In the News (C-CM) Canadian Imperial Bank of Commerce (CIBC)
Also In the News (C-RY) Royal Bank of Canada
Also In the News (C-TD) Toronto-Dominion Bank

The Globe and Mail reports in its Tuesday edition that Laurentian Bank of Canada's U.S. commercial financing business, Northpoint Commercial Finance, has been its fastest-growing division. The Globe's quadruple bylined item reports that Northpoint contributes about a quarter of Laurentian's revenue. Five unnamed sources say Northpoint could be the cornerstone of a possible deal, but if suitors are interested only in this division, Laurentian will have some figuring to do. There are few candidates among the Big Six banks that are likely to chase a deal to buy Laurentian. RBC's excess capital is earmarked for its pending acquisition of HSBC Canada. CIBC has said it is focused on building its existing business and in building its capital reserves under a tighter regulatory environment. National Bank of Canada is focused on expanding outside of its stronghold in Quebec. Scotiabank has signalled an interest in Quebec, but has also been tasked with improving funding issues like those of Laurentian. While BMO has been expanding its commercial unit, it may be tied up with integrating its purchase of Bank of the West. TD, however, has the means to buy Laurentian. TD is sitting on $18-billion in excess capital.

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