National Bank closes Canadian Western Bank acquisition

MONTREAL — National Bank of Canada says it has completed its acquisition of Canadian Western Bank.

The Montreal-based bank says integration activities will now begin as it looks forward to onboarding CWB clients and employees in the coming months.

National Bank chief executive Laurent Ferreira says the combined organization will provide customers with an expanded product and service offering nationally, while maintaining regional expertise.

National Bank announced an all-stock deal to buy Canadian Western in June last year.

The takeover will see National Bank expand further westward as it takes on CWB’s Alberta and B.C.-focused operations.

CWB common shares are expected to be delisted from the Toronto Stock Exchange as of the close of business on Tuesday.

This report by The Canadian Press was first published Feb. 3, 2025.

Companies in this story: (TSX:NA, TSX:CWB)

The Canadian Press