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Laurentian Bank announces split sale to Fairstone Bank and National Bank
Fairstone acquires Laurentian's commercial operations in a $1.9 billion cash deal, while National Bank takes over retail and SME banking books, expanding their market presence.
- Laurentian Bank of Canada agreed to be split and sold on Dec. 2, 2025, with commercial operations going to Fairstone and retail and small-business operations to National Bank in a $1.9 billion all-cash deal.
- After a failed 2024 sale attempt, Laurentian Bank of Canada launched an overhaul, capping years of struggles at the more than 175-year-old bank with lagging digital adoption and a first app launched a few years ago.
- Fairstone will pay $40.50 per share in cash while National Bank of Canada will acquire roughly $10.9 billion in retail loans and deposits and $1.4 billion in SME loans and deposits, but Laurentian's 57 branches and employees won't transfer though staff may apply for roles.
- The Laurentian brand and commercial head office in Montreal will remain under Fairstone, with Provost continuing as CEO, pending a two-thirds shareholder vote supported by Caisse de dépôt et placement du Québec.
- The move will reshape staffing as it affects the majority of Laurentian's roughly 2,715 employees and boosts Fairstone Bank of Canada's scale after last year's Home Trust merger, leaving it with about two million customers and 255 branches.
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27 Articles
27 Articles
The National Bank will get hold of its personal and SME banking portfolios.
·Montreal, Canada
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The National Bank will purchase the portfolios of private customers, SMEs and union loans from Laurentian.
·Montreal, Canada
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Total News Sources27
Leaning Left12Leaning Right2Center8Last UpdatedBias Distribution55% Left
Bias Distribution
- 55% of the sources lean Left
55% Left
L 55%
C 36%
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