The Montreal-based bank, which has around 3,000 employees, announced late Tuesday that its board of directors and management team are conducting a strategic review. The process, which could lead to a potential sale, began after a competing bank made a bid for Laurentian and larger rivals are now circling, according to The Globe and Mail. (The Logic, The Globe and Mail)

Talking point: Laurentian is about halfway through its three-year strategic plan to revamp the bank, developed after Rania Llewellyn became CEO in 2020. The plan included a digital push to draw more customers outside of Quebec. Laurentian has introduced a mobile app, a new line of Visa credit cards and a chequing account that consumers can open online. It also grew its commercial banking arm. Meanwhile, RBC is awaiting approval for its proposed $13.5-billion acquisition of HSBC Canada. National Bank analyst Gabriel Dechaine wrote in a note that Laurentian could go for $2.6 billion. Laurentian shares climbed over 26 per cent on Wednesday.