Laurentian Bank Partners with National Bank and Fairstone Bank in $1.9 Billion Deal

Laurentian Bank plans to shift focus to commercial banking through a $1.9 billion split sale with National Bank and Fairstone Bank. The deal will see Laurentian's retail and SME portfolios acquired by National Bank, while its commercial focus, including real estate lending, will remain with Fairstone. Laurentian's CEO, Éric Provost, says the partnership will allow the bank to continue growing in segments where it excels. Provost will remain in his role, but the transaction is expected to affect 2,715 employees.