MONTREAL — Canada's banking sector is facing further consolidation as National Bank of Canada has reached an all-share deal to acquire Canadian Western Bank ...
MONTREAL — 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.
Canadian Western has about 65,000 clients and 39 branches, 30 of which are in the B.C. and Alberta, where National currently has only three in each, compared with 280 in Quebec. "We will work with CWB clients to increase banking services and increase investment in Western communities," said Ferreira. It says it expects the costs of carrying out the deal will run about $400 million, while it plans to achieve $270 million in annual cost savings within three years of the acquisition.
ATLANTIC CITY, N.J. — Former president Donald Trump is not the holder of liquor licenses at his three New Jersey golf clubs, his company said Tuesday in response to an inquiry by the New Jersey attorney general's office into whether his convictions in a New York case might affect those licenses.On stage on Monday CEO Tim Cook's Apple announced a splashy deal with OpenAI to include its powerful artificial intelligence model as a part of its voice assistant, Siri.
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