The Continental Bank of Canada was a chartered bank formed in Canada when IAC, a financing company, decided to expand the scope of operations in the 1980s. This small bank struggled for several years before being acquired by Lloyds Bank of the United Kingdom. Continental Bank became "Lloyds Bank of Canada" in 1986. After several years of losses, Lloyds Bank sold its Canadian operations to Hong Kong Bank of Canada (HBC) in 1990. HBC merged Lloyds Bank of Canada with its existing operations into what is now HSBC Bank Canada.
See also: List of banks in Canada
Famous quotes containing the words bank and/or canada:
“O Gold! I still prefer thee unto paper,
Which makes bank credit like a bark of vapour.”
—George Gordon Noel Byron (1788–1824)
“I fear that I have not got much to say about Canada, not having seen much; what I got by going to Canada was a cold.”
—Henry David Thoreau (1817–1862)