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National Bank of Canada to Acquire Canadian Western Bank in $5 Billion All-Share Deal



National Bank of Canada has announced an all-share deal to acquire Canadian Western Bank, valuing the lender at approximately $5 billion. 


This acquisition allows National Bank to significantly expand its presence in Alberta and British Columbia, where Canadian Western has 39 branches and 65,000 clients. The move follows Royal Bank of Canada's $13.5-billion acquisition of HSBC Canada, raising concerns over market concentration. 


National Bank’s CEO Laurent Ferreira stated that this transaction aligns with the bank's strategic plan for pan-Canadian growth and will enhance its lending portfolio by 37%. The acquisition aims to create a stronger national competitor in the banking sector.





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