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0 0 -0.00212314225053074 -0.00212314225053074 -0.00210191082802548 0.00106157112526537 0.00106157112526537 -0.00212314225053074
Stock impact report

Laurentian Seeks Partner to Fund $1 Billion of Northpoint Assets [BNN Bloomberg (Canada)]

Banco Santander, S.A. Sponsored ADR (Spain) (SAN) 
Company Research Source: BNN Bloomberg
The Montreal-based lender is exploring partnerships with funds, including in the form of a so-called forward flow agreement, where a buyer agrees to purchase loans before they have been originated and guarantees financing for them, the people said. Conversations are ongoing and no final decision has been made, said the people, who asked to not be identified as the details are private. “Laurentian Bank is always exploring partnership opportunities that could enhance its growth and profitability,” a spokesperson said in an e-mailed statement. “Northpoint Commercial Finance is an important component of our specialized Commercial Banking strategy, as stated in our Strategic plan, and we strongly believe in its growth potential.” Lenders globally are increasingly seeking to share risk in their loan books, while buy-side firms are looking for opportunities to invest. Banks may do so by selling loans or striking partnerships for some of their assets. In Europe, Banco Santander SA has be Show less Read more
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