Canadian Western Bank logo

CWB - Canadian Western Bank News Story

C$24.32 -0.4  -1.5%

Last Trade - 13/08/20

Mid Cap
Market Cap £1.23bn
Enterprise Value £3.05bn
Revenue £505.9m
Position in Universe 172nd / 2682

Canada's biggest banks, insurers to hold annual meetings online as virus spreads

Fri 20th March, 2020 2:43pm
March 20 (Reuters) - Canada's largest banks and insurers
said on Friday they would hold their annual meetings online, in
a move to shelter shareholders and employees from the
fast-spreading coronavirus.
    The "big six" Canadian lenders - Royal Bank of Canada
 RY.TO , TD Bank  TD.TO , Scotiabank  BNS.TO , Bank of Montreal
 BMO.TO , CIBC  CM.TO  and National Bank of Canada  NA.TO  - are
participating in this initiative.
    The companies had to obtain a court order as Canadian banks
and insurers are not permitted to hold an electronic annual
meeting without relief from a court, the statement said
    "We have jointly obtained a court order that allows us to
hold our annual meetings, in whole or in part, using electronic
means," a statement from the companies said.*:nCNWGgQ16a
    Manulife  MFC.TO  and Sun Life  SLF.TO , the country's
largest insurers, will also move their annual meetings online.
    Smaller bank peers Canadian Western Bank  CWB.TO ,
Laurentian Bank  LB.TO  and insurers Great-West Lifeco  GWO.TO ,
and Canada Life will also hold their annual meetings virtually.

 (Reporting by Bharath Manjesh in Bengaluru; Editing by Sriraj
 ((;  outside U.S. +91 80
6749 2703;))
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.