By Doc Louallen

National Bank of Canada has signed an agreement to acquire Truvera Trust Corp.

The bank said the deal, through its subsidiary Natcan Trust Co., which operates as National Bank Trust, supports its strategy to expand wealth management and strengthen its presence in Western Canada.

British Columbia, Vancouver-based Truvera, which has an office in Kelowna, provides estate and trust planning as well as executor and trustee services for individuals, families and business owners.

With a local presence in Western Canada, National Bank Trust said it plans to expand support for intergenerational wealth transfer and estate planning. It will strengthen ties with the local business and professional community, and build on collaboration with National Bank Financial Wealth Management.

The bank said the integration will be carried out progressively to ensure continuity for clients and employees, using National Bank Trust's broader infrastructure and expertise. It said the transaction will not have a material impact on National Bank of Canada's financial position.

The acquisition is subject to customary closing conditions and is expected to close in the coming months.

The companies did not disclose the terms of the deal.

Write to Doc Louallen at Doc.Louallen@wsj.com


(END) Dow Jones Newswires

07-07-26 1641ET