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Canada OKs M&T for office in Toronto

Rochester Business Journal
June 7, 2010

M&T Bank Corp. has received approval from Canadian regulators to open a commercial banking office in Toronto, the Buffalo-based financial institution announced Monday.

The branch, on Bay Street downtown, is M&T’s first in Canada. It will provide commercial banking services such as deposits and loan services to Canadian businesses, officials said.

“Canada has a robust economy and a strong trade relationship with the U.S., with a large amount of that trade flowing across the Ontario-New York border,” bank President Mark Czarnecki said in a statement.

“M&T has been headquartered on the border for more than 150 years, and our understanding of cross-border commerce, along with decades of experience serving Canadian businesses operating in the U.S., makes Ontario an ideal location for M&T’s first international commercial bank office.”

John McLeod, a commercial banker in Canada for 30 years, has been appointed principal officer for M&T in Canada.

M&T Bank ranks second in the Rochester market with local deposits of $2.6 billion, data from the Federal Deposit Insurance Corp. shows. It is one of the 20 largest commercial bank holding companies in the United States.

(c) 2010 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.


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