Laurentian Bank is going up for sale. It launches a strategic review process that could lead to the sale of the regional bank.
The financial institution, officially based in Montreal, but managed from Toronto, made the announcement in a press release on Tuesday after the markets closed. “The Bank does not intend to communicate any further information on this subject before the review is completed. »
President and CEO Rania Llewellyn launched a new strategic plan at the end of 2021 to breathe new life into a declining bank after the failure of the seven-year transformation plan adopted by his predecessor, François Desjardins, in 2015.
In a banking industry dominated by large financial institutions, Laurentian’s size was a hindrance, because technological investments are often as important as for a large institution, but they are spread over a smaller pool of clients.
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