Key Highlights
- National Bank Trust is acquiring Vancouver-based Truvera Trust Corp.
- The deal strengthens National Bank’s presence in British Columbia after its purchase of Canadian Western Bank.
- The bank says growing demand for estate planning and wealth transfer services is driving the move.
National Bank of Canada is continuing its expansion in Western Canada with the acquisition of Vancouver-based Truvera Trust Corp. It is a move that adds local expertise and strengthens the bank’s trust and estate planning business.
The financial terms of the transaction were not disclosed, and the bank said the acquisition is not expected to have a material impact on its financial position.
For National Bank Trust, the acquisition is about more than simply adding another business. The bank says clients increasingly need support with estate planning, philanthropy, and transferring wealth across generations.
“Clients’ needs are becoming increasingly complex, particularly around intergenerational wealth transfer: everything that’s related to estate planning, trust services and philanthropy,” said Marie-Soleil Lemieux, Chief Executive of National Bank Trust.
Trust Services Become a Bigger Part of Financial Planning
The acquisition comes at a time when Canada is experiencing a significant transfer of wealth between generations.
According to a 2025 report from estate-planning platform Willful, roughly half of Canadians have a will, while the percentage is much lower among younger adults, including Gen Z and millennials.
Lemieux said trust and estate planning has become an important way for financial advisers to build long-term relationships with families.
By working with parents, children, and grandchildren over time, advisers can create continuity and strengthen the relationship across multiple generations, she said.
Building a Stronger Presence in British Columbia
The Truvera deal also adds to National Bank’s broader push into Western Canada. The Montreal-based lender significantly expanded its reach in the region when it acquired Canadian Western Bank in 2025, giving it a larger footprint in Alberta and British Columbia.
While Lemieux described the Truvera transaction as relatively modest in size, she said it carries considerable strategic value because it brings experienced professionals, local market knowledge, and an established presence in a province where National Bank Trust previously had limited operations.
The bank’s wealth management business has been performing well. In its second-quarter results released in May, National Bank reported $274 million in net income from wealth management, up 18% from a year earlier, while revenue for the segment rose 14% year over year to $905 million.
As more Canadians seek guidance on estate planning and wealth preservation, National Bank appears to be positioning trust services as a larger part of its long-term growth strategy.
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