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Owned by National Bank. Previously a Public company, regional bank. Formed through the 1988 merger of two banks: the Bank of Alberta (founded 1984), and the Western & Pacific Bank of Canada (founded 1982). On February 3, 2025 National Bank of Canada announced that it had completed its acquisition of Canadian Western Bank.
For much of the 20th century, Canada's trust companies were controlled by the major banks through interlocking directorates. However, revisions to the Bank Act in 1967 forbade individuals from sitting on a bank and trust company board simultaneously; this had been a recommendation in the 1964 Report of the Royal Commission on Banking and ...
On 12 August 1898 as the National Trust Company of Ontario, Limited was incorporated by letters patent under the Ontario Companies Act. [5] National Life's shares were held primarily by companies under Cox's control, including Canada Life, Central Canada Savings and Loan, the Canadian Bank of Commerce, and Toronto Loan and Savings.
During the late 1990s and beyond, this ranking changed due to several reorganizations. Royal Bank acquired Royal Trust in 1993, [23] while Scotiabank purchased National Trust in 1997. As Scotiabank found no merger partners among the other banks in the big five group, it instead expanded its international operations and passed the Bank of ...
The main federal statute for the incorporation and regulation of banks, or chartered banks, is the Bank Act (S.C. 1991, c.46), [20] where Schedules I, II and III of this Act list all banks permitted to operate in Canada under these three distinct categories:
National Trust Company; R. Royal Trust Company; T. Toronto General Trusts This page was last edited on 2 July 2017, at 11:26 (UTC). Text is available under the ...
VersaBank is a Canadian chartered bank headquartered in London, Ontario. Formerly known as the Pacific & Western Bank of Canada, it was founded as a trust company in Saskatoon, Saskatchewan, in 1980 and later moved its head offices to London, Ontario. On August 1, 2002, it was granted a Schedule I Canadian chartered bank licence by the Canadian ...
The bank merged with Eaton Trust Company (in 1988), purchased Standard Trust's 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).