National Bank Acquires Canadian Western Bank for $5 Billion

The all-share deal expands National Bank's presence in Western Canada, targeting growth in Alberta and British Columbia.

• The acquisition values Canadian Western Bank at a 110% premium over its closing price.
• National Bank aims to enhance its full-service offerings and digital capabilities through the merger.
• The deal includes a $500 million investment from Quebec's pension fund, CDPQ.
• National Bank expects $270 million in annual cost savings within three years.
• The transaction is subject to regulatory approval and is expected to close by the end of 2025.

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