The Caisse de dépôt et placement du Québec has made a $100-million equity investment in Quebec-based Laurentian Bank.
“Through the Caisse’s financing and a well-structured capital deployment strategy, the bank, will continue to grow and enhance its presence in the market,” the Caisse and Laurentian said in a written statement.
Laurentian announced earlier today that it was acquiring 100% of AGF Trust in a deal worth approximately $242 million. AGF Trust provides GICs, term deposits, investment loans and real estate secured loans.
“Laurentian Bank has been part of the Quebec landscape for more than 165 years and has carved out a place in the Canadian financial markets, notably through a subsidiary specialized in banking services distribution,” said Normand Provost, executive vice-president of private equity with the Caisse.
“The Caisse is now becoming a partner of this growing bank whose performance will ensure a promising future and attractive returns for our depositors.”