MONTREAL, July 9, 2012 /CNW Telbec/ - A wholly-owned subsidiary of Laurentian Bank, B2B Trust announced today that it is converting into a schedule I federally chartered bank under the name of B2B Bank effective immediately. Over the past few years, B2B Trust's activities have progressively evolved and now focus on the distribution of banking products and services via the network of Canadian financial advisors. The company has posted significant growth: its loan and deposit portfolios almost doubled, it does business with more than 23,000 financial advisors and has some 70 distribution agreements in place with insurance and mutual companies.
"B2B Trust has evolved considerably since its creation," underlines François Desjardins, President and CEO of B2B Bank. "And today, our offering of banking products such as loans and deposits represents a large part of our portfolio. We will continue to serve the needs of Canadian financial advisors with the greatest respect for the relationships they have with their clientele."
About B2B Bank
B2B Bank provides some 23 000 financial advisors with best-in-class banking products and services for distribution to their clients across Canada. The company is a leading third-party supplier of investment and RRSP loans, a premier supplier of deposit products, and a long-time provider of self-directed accounts, banking services and mortgage loans. With its head office located in Toronto, B2B Bank has regional representatives offering its products and services across Canada. It is a federally chartered bank and wholly-owned subsidiary of Laurentian Bank of Canada. The website address is b2bbank.com.
Image with caption: "François Desjardins, President and Chief Executive Officer, B2B Bank. (CNW Group/B2B Bank)". Image available at: http://photos.newswire.ca/images/download/20120709_C6809_PHOTO_EN_16044.jpg
For further information:
Senior Manager, Medias and Public Relations
B2B Bank / Laurentian Bank
514 284-4500, extension 8232