Laurentian Bank of Canada - Mergers

Mergers

The bank merged with Eaton Trust Company (in 1988), purchased Standard Trust assets (1991), acquired La Financière Coopérants Prêts-Épargne Inc., and Guardian Trust Company in Ontario (1992), acquired General Trust Corporation in Ontario, and purchased some Société Nationale de Fiducie assets and the brokerage firm BLC Rousseau (1993).

In 1993, the Desjardins-Laurentian Financial Corporation became the new majority shareholder of Laurentian Bank of Canada, following the merging of the Laurentian Group Corporation with the Desjardins Group. The bank purchased the Manulife Bank of Canada’s banking service network and the assets of Prenor Trust Company of Canada in 1994.

In 1995, the Bank acquired 30 branches of the North American Trust Company.

In 1996, one of its subsidiaries acquired the parent corporation of Trust Prêt et Revenu du Canada. A few months later, the withdrawal of its main shareholder – Desjardins-Laurentian Financial Corporation – prompted the Laurentian Bank to become a Schedule I Bank under the Bank Act, on a par with all the other large Canadian banks.