Laurentian Bank’s retail customers are poised to move to National Bank, the latest in a wave of consolidation in the banking industry.
In a split-sale agreement, National Bank will take over Laurentian’s retail loans and deposits as well as the small business segment while Fairstone Bank of Canada acquires the commercial operations.
While the length of the transition isn’t known yet, Natasha Macmillan, Ratehub.ca’s everyday banking expert, says customers should expect to receive email or mail notifications regarding their accounts, loans, or other banking products held with Laurentian.
She says an acquiring bank generally aims to minimize disruptions as its goal is to retain clients and maintain high customer satisfaction.
For example, Macmillan says when HSBC Canada was acquired by RBC two years ago, customers were automatically transitioned to RBC products with minimal or no action required on their end.
However, she says customers should be aware that some products could change, such as fee structures, interest rates, and account features, as part of the transition.
This report by The Canadian Press was first published Dec. 2, 2025.
Companies in this story: (TSX: LB, TSX: NA)
