The Canadian National Bank will start offering commercial banking services in 2018, a senior executive says.
“We have a really strong platform in place now that allows us to scale up faster and we can offer that,” said Peter Boulanger, president and CEO of Alpha Bank.
“Our ability to do that in the coming years is going to be a huge benefit for our clients and we are very excited to be able to start our commercial banking service.”
The Alpha commercial bank will have its commercial branch opened by 2021.
“It is something that has been in the works for quite a while and we’re very excited about this,” Boulangersaid.
“As we continue to grow our commercial bank platform and expand it to more customers, we’re seeing a significant demand for commercial banking.”
The bank has a partnership with the Credit Suisse Group to provide a range of services.
The bank will also offer a commercial banking product in 2018 for customers that have access to credit unions.