National Bank of Canada’s deal for Silicon Valley Bank’s Canadian commercial loan portfolio will give it more exposure to higher growth industries and still leave the Montreal-based lender with enough capital to take a run at Laurentian Bank, according to analysts.
Canada’s sixth-largest lender agreed to buy the SVB Canadian commercial loan portfolio from First Citizens Bank on Tuesday. The loan book is comprised of approximately C$1 billion ($752 million) in loan commitments of which around C$325 million are outstanding and are in the technology, life science and global fund banking sectors, according to a statement
Read More : National Bank Expands Tech Book by Acquiring SVB’s Canadian Portfolio