Laurentian’s Split Spells the Demise of Another Small Canadian Bank
Plus: Was Build Canada Homes overhyped?
Welcome to Canada Daily, our newsletter on business, economics and politics from Vancouver to Montreal and beyond. If this was forwarded to you, sign up here .
National Bank of Canada has unwrapped a Christmas gift. Montreal’s Laurentian Bank is practically giving away its retail bank and small-business lending unit to its much larger crosstown rival. Laurentian’s more valuable parts, namely its commercial lending business, are being taken over by Fairstone Bank in a C$1.9 billion ($1.4 billion) deal.