National Bank completes acquisition of bank with several Fraser Valley branches
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FRASER VALLEY — National Bank yesterday (Feb. 3) finalized the completion of its previously announced acquisition of Canadian Western Bank, which has several Fraser Valley locations.
CWB wrote in its website that there no immediate changes to client relationships or business operations, and that its existing customers should reach out to their primary CWB contact with any questions or concerns. Canadian Western Bank has branches in Abbotsford, Langley and Surrey.
On its end, National Bank says integration activities will commence soon, followed by further transition activities, and a period of on-boarding CWB clients and employees in the coming months.
“Today is an exciting day for National Bank and marks a pivotal step in our history,” said Laurent Ferreira, President and CEO of National Bank. “This transaction will allow us to deliver a stronger banking choice for all Canadians and Canadian businesses. Our combined organization will provide customers with an expanded product and service offering nationally, while maintaining regional expertise. Thanks to CWB’s established roots in Western Canada, National Bank is expanding its operations. We will pull strengths from our collective network and further extend the depth and breadth of our banking capabilities.”
