Smith Financial looks to merge portfolio companies Fairstone Bank and Home Trust

📆 26/03/2024 07:18 a. m.
📰 SooToday

⏱ Reading Time:
25 sec. here
2 min. at publisher
📊 Quality Score:
News: 13%
Publisher: 85%

México Noticias Noticias

México Últimas Noticias,México Titulares

TORONTO — Smith Financial Corp. is merging a pair of its portfolio companies, Fairstone Bank of Canada and Home Trust Co., in a move they say will create the leading alternative lender in Canada.

Smith financial founder and CEO Stephen Smith says the combination is characterized by a strong cultural fit and complementary strengths.

Fairstone Bank offers credit cards and rewards programs, point-of-sale financing, automobile financing and personal loans, while Home Trust is focused on residential and non-residential mortgages, credit cards and guaranteed investment certificates.Under the deal, Smith Financial will own a majority stake in the new company, while Fairstone Bank's other shareholders, Centerbridge Partners LP, Ontario Teachers' Pension Plan Board and management, will continue as minority owners.

Escribir Comentario

Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Access Bank to Buy Kenya’s NBK, Boosting Presence in Key MarketAccess Bank Plc plans to acquire National Bank of Kenya from KCB Group Plc, boosting the foothold of Nigeria’s biggest bank in a key East African market.
Fuente: BNNBloomberg - 🏆 83. / 50 Leer más »