Newcourt's growing pains

Article Abstract:

Newcourt Credit Group Inc., a commercial financing firm based in Toronto, Canada, is reporting continued growth in the past seven years from 1998 due largely to strong economy but faces challenges as the market declines . The company, which already reported 19 acquisitions during the years of growth, based its sales mainly from fees charged for services rendered in looking for loans and managing them. Newcourt needs to continue looking for new businesses even within the current economic recession or else it will fail as fast as it grew in the past seven years according to some industry analysts. An analyst suggested that the firm needs to diversify its source of revenue.

Comment:

Reports continued growth in the past 7 years from 1998 due largely to strong economy but faces problems as market declines

Consumer Lending, Consumer Finance Institutions, Consumer finance companies, Newcourt Credit Group Inc.

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CT Financial armed with $1-billion acquisition war chest

Article Abstract:

CT Financial Services Inc. or Canada Trust, the largest trust firm in Canada, is being closely watched for a merger as its financial assets continue to grow at C$1 billion. The trust firm has staked its ground as an independent player in the rapidly consolidating banking industry. Canada Trust's CEO Edmund Clark said that the firm is being patient and weighing its opportunities. Canada Trust is the last big trust firm not owned by a bank and is considered a highly a desirable acquisition because of its strong consumer banking franchise and brand name.

Comment:

Is yet to make a major acquisition as its financial assets continues to grow at C$1 billion

Trust Companies, CT Financial Services Inc.

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Laurentian snags Sun Life's trust business

Article Abstract:

Laurentian Bank of Canada, the seventh-largest domestic bank in Canada, has signed an all-cash agreement to acquire the trust business of Sun Life Assurance Company of Canada. The deal would allow Laurentian to gain around C$1.7 billion in deposits, C$1.6 billion in mortgages and a group of independent advisers. In addition, Laurentian's assets base will rise by 11% to C$15 billion.

Asset sales & divestitures, Acquisitions & mergers, Bank Trust Services, Sun Life Assurance Company of Canada

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