Laurentian Bank of Canada , the country's ninth largest bank, said on Tuesday it is conducting a review of strategic options.
The logo of Laurentian Bank is seen at its head offices in Montreal, April 1, 2015. REUTERS/Christinne Muschi, the country's ninth largest bank, said on Tuesday it is conducting a review of strategic options.the bank's board of directors recently hired financial and legal advisers to pursue a potential sale.
The Canadian financial sector has been consolidating following the nation's biggest lender Royal Bank of Canada'sLaurentian laid out a three-year turnaround plan in late 2021 to streamline operations and boost profits. Chief Executive Officer Rania Llewellyn, who has led the bank for the past two years, has focused on cutting costs while streamlining and modernizing operations to position the lender as an alternative to the Big six banks that control roughly 80% of the market in Canada.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Financial pressure building on several fronts for Canadians as Bank of Canada decision looms, poll findsMore Canadians are likely to declare bankruptcy and saving for retirement has been pushed firmly to the back burner. Find out more.
Read more »
Bank of America fined $250 million for 'junk fees' and opening fake accountsThe Consumer Financial Protection Bureau announced Tuesday that Bank of America faces some major financial penalties over accusations the bank illegally opened bank accounts and improperly charged junk fees.
Read more »
BIS gives CBDCs a thumbs up, crypto the middle finger in reports to G20 ministersThe Bank for International Settlements Innovation Hub has released reports on cryptocurrency and central bank digital currency for use by the G20 finance ministers’ and central bank governors’ meetings.
Read more »
USD/CAD Price Analysis: Bears are moving in ahead of the BoCUSD/CAD fell to a one week low on Tuesday, while oil prices climbed and investors looked forward to a likely interest rate hike by the Bank of Canada.
Read more »
Trump and DeSantis begin eyeing Super Tuesday states as they prepare for 2024 long gameAs the Republican presidential primary intensifies this summer, most White House hopefuls are devoting their time to events in Iowa and New Hampshire, the states that kick off the nomination process early next year. Not Ron DeSantis or Donald Trump.
Read more »