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.
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