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Email this1:06 pm
April 6, 2013
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Updated Laurentian Bank Transaction information and FAQ indicates National Bank won't be acquiring LBC Digital as part of Laurentian Bank's Personal and SME banking business:
Impacted lines of business.
Personal and SME banking will
transfer to National Bank
- Accounts
- Credit cards
- Mortgages
- Lending
- Investments
- Banking services
Sectors remaining at Laurentian Bank
- Commercial real estate financing
- Northpoint Commercial Finance
- B2B Bank
- Capital markets
- LBC Digital
3:06 pm
October 27, 2013
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As I understand it, LBC Digital et al is going to Fairstone which will keep the LB stuff as a LB branded subsidiary?
11:24 pm
April 6, 2013
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Fairstone is buying Laurentian Bank. Then, Laurentian Bank will sell its personal and SME banking businesses to National Bank.
It now looks like Laurentian Bank will sell only its branch personal banking and its branch SME banking businesses to National Bank.
9:44 pm
April 6, 2013
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The sale to National Bank of Laurentian Bank's personal and SME banking businesses is actually a condition of Fairstone's purchase of Laurentian Bank!
The completion of the acquisition transaction between Laurentian Bank and Fairstone Bank is subject to the satisfaction of other closing conditions, including the closing of the acquisition by National Bank of Laurentian Bank's retail and SME banking portfolios. …
Once the remaining approvals are received, Laurentian Bank will sell its branch personal banking and its branch SME banking businesses to National Bank. That won't include LBC Digital.
Then, Fairstone will pay for and acquire all the common shares of Laurentian Bank.
