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Canadian Western-EQB deal makes sense after market thrashing: Analyst - BNN Bloomberg

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Shares of small Canadian lenders have taken a pummelling this year, and one veteran analyst thinks the table could now be set for takeovers in the sector.

And he thinks one combination makes particular sense: a takeover of EQB Inc. by Canadian Western Bank.

Shares of the four small lenders have declined an average of 32 per cent so far this year, Dechaine says. That’s versus a 14 per cent drop for the Big Six banks. “If this discounted valuation persists,” he wrote, ”we could see consolidation speculation of a different nature emerge: potential takeovers by larger entities.”

And he devotes considerable attention to the merits he sees in a combination of Canadian Western Bank and EQB.

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