JOURNAL ARTICLE

Canada's Biggest Indigenous-Owned Bank Plans Major Expansion.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Seal, Thomas 3 of 3

Abstract

Canada's largest Indigenous-owned bank, First Nations Bank of Canada, is planning a significant expansion to reach more customers. The bank aims to raise up to C$50 million ($36 million) through an equity raise, which could increase its capital by 50%. The goal is to double its C$600 million loan book over the next few years. The move highlights the growing financial influence of First Nations, Metis, and Inuit communities in Canada. The bank's mission is to expand economic opportunities for Indigenous Canadians and address historical imbalances. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/04, pN.PAG
  • Document Type:Proceedings
  • Subject Area:Politics and Government
  • Publication Date:2024
  • Accession Number:176806997
  • Copyright Statement:Copyright of Bloomberg.com is the property of Bloomberg, L.P. and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Looking to go deeper into this topic? Look for more articles on EBSCOhost.