General Bank of Canada’s Post

National Bank of Canada bought Canadian Western Bank for $5b last week. Why did Canada's 6th largest lender acquire the 8th? Growth outside of Quebec: Today, a quarter of NBC’s assets are outside of Quebec. This deal gives them a huge bump! CWB has 65k customers & 39 branches in Western Canada & Ontario. Growth in commercial finance: CWB is a powerhouse in equipment and specialty finance. They’ll boost NBC’s non-Quebec loan book by 37%. Growth in wealth: CWB has $10b in wealth assets. They’ve done a great job cross selling wealth services to their commercial clients. -- Want more? Subscribe to the Canadian Fintech Newsletter in the comments below 👇

Breaking News: The Bank of Canada holds its key interest rate steady, paving the way for stability and financial certainty. 🏦💼 At Blue Capital Equipment Finance, we're here to navigate the financial landscape for your business. Secure your equipment financing with confidence as we continue to provide flexible solutions tailored to your needs. Let's drive your success forward together! 🌐💰 #BlueCapitalFinance #BankOfCanada #financialstability

Breaking News: The Bank of Canada holds its key interest rate steady, paving the way for stability and financial certainty. 🏦 💼 At Blue Capital Equipment Finance, we're here to navigate the financial landscape for your business. Secure your equipment financing with confidence as we continue to provide flexible solutions tailored to your needs. Let's drive your success forward together! 🌐💰 #BlueCapitalFinance #BankOfCanada #financialstability

🔹 Exciting news! Laurentian Bank of Canada just released its Q2 financial report. Despite the challenges, we're proud to share our progress with you. Check out the details here: [link] 🔹 Even in the face of losses, we're focused on learning, growing, and improving for the betterment of our customers and stakeholders. Your continued support means the world to us! #LaurentianBank #FinancialReport #ProgressMade

How long does it take to establish a "good" credit score as a newcomer in Canada? Morteza Hessari Sharahi, a financial advisor at Scotiabank, is here to walk us through it! For everything you need to know about building a good credit score as a newcomer in Canada, head over to the link below and watch the full length video of our interview with Morteza 

The moment we’ve all been waiting for… Last week, the Bank of Canada announced a cut to the overnight rate for the first time in over four years. We’ve been waiting for this moment - now what does this mean for businesses? As rates begin to look more attractive, now might be the time to pursue new projects and capitalize on declining interest rates. Have you been holding off from taking on new projects due to the high costs of borrowing? Got plans to grow? We’ve helped over one hundred thousand businesses secure funding - we can help you too! Speak with a Swoop Funding Manager today to get started 👉 https://bit.ly/4c05ioa #BoC #Canada #Swoop

How long does it take to establish a "good" credit score as a newcomer in Canada? Morteza Hessari Sharahi, a financial advisor at Scotiabank, is here to walk us through it! For everything you need to know about building a good credit score as a newcomer in Canada, head over to the link below and watch the full length video of our interview with Morteza 🎥 https://lnkd.in/gNdGR7Kk #credit #creditscore

#WednesdayThoughts #DidYouKnow that 252 Adelaide Street West in Toronto is the oldest building in Canada to have been built as a bank, specifically the Bank of Upper Canada? It currently serves as the head office for Orium, a software company. Here's more on the history of this bank: The Bank of Upper Canada was chartered on April 21, 1821, and began operations in York in July 1822. The bank was established due to pressure from the commercial community, close ties with the influential Family Compact, and the local government's need for capital to support economic growth in Upper Canada. Early Operations and Leadership William Allan served as the president of the bank for 12 of its first 13 years. Under his leadership, the bank adapted British banking practices to the needs of a frontier economy. Thomas Gibbs Ridout, the cashier (general manager), and William Proudfoot, who succeeded Allan, played key roles in the bank's operations. Role in the Economy The Bank of Upper Canada held significant influence in the province's financial system. It provided a substantial portion of the money supply through its banknotes, which were widely used for trade. During the Rebellions of 1837, the bank faced criticism for its speculative loan practices and its close association with the ruling elite, the Family Compact. Financial Challenges and Decline The bank engaged in extensive land and railway speculation during the 1850s, which contributed to its financial instability. The economic collapse of 1857 further weakened the bank, and it lost the government account in 1864. By 1866, the Bank of Upper Canada had entered trusteeship and ceased operations, resulting in significant losses for both shareholders and taxpayers. Legacy Despite its eventual failure, the Bank of Upper Canada played a crucial role in the early economic development of Upper Canada. Its history reflects the challenges and transformations of the Canadian banking system during the 19th century. 🏛️ #History #BankFailure #FamilyCompact 📸 Wikipedia

Canada’s banking sector is facing further consolidation as National Bank of Canada has reached an all-share deal to acquire Canadian Western Bank that values the lender at about $5 billion, reported the Financial Post.   "The deal will see Quebec-focused National Bank expand its geographic reach as it takes over Canadian Western’s operations, which are concentrated in Alberta and British Columbia." https://lnkd.in/gt7p7Ud2 #canada #bank #consolidation