Desjardins Group said Tuesday that it has acquired the mortgage portfolio of La Capitale.
A total of 6,376 mortgages will be transferred, with a closing date of February 1, 2020. Mortgage customers of La Capitale will be informed officially of the transfer after February 3 but will not need to do anything and will not see any change in the financial details of their loans.
"I'm proud of this acquisition, which solidifies Desjardins' position as a leader in the residential mortgage market," said Guy Cormier, President and CEO of Desjardins Group. "It's a high-quality portfolio from La Capitale that fits perfectly with Desjardins's expansion objectives, which include seeking out acquisitions to maximize synergies within our organization. We'll continue to pursue attractive growth opportunities in our primary markets."
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