Laurentian Bank (TSE:LB) has released an update.
Laurentian Bank Securities is selling its retail full-service investment broker division’s assets under administration, worth approximately $2 billion, to iA Private Wealth Inc., with the deal expected to close by summer pending regulatory approval. This strategic move is part of the bank’s focus on simplification and enhancing competitiveness in its core business areas. The bank emphasizes that the transaction’s net proceeds will not significantly impact its financial position.
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