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CWB - Canadian Western Bank News Story

C$24.32 -0.4  -1.5%

Last Trade - 13/08/20

Sector
Financials
Size
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.  urn:newsml:reuters.com:*: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
Kalluvila)
 ((Bharath.ManjeshR@thomsonreuters.com;  outside U.S. +91 80
6749 2703;))
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