BUFFALO, N.Y., June 7 /PRNewswire-FirstCall/ -- M&T Bank (NYSE: MTB), one of the top 20 U.S. commercial banks, has received final approval from the Office of the Superintendent of Financial Institutions Canada (OSFI) to open a commercial banking office in Canada.
M&T's branch office at 161 Bay Street in downtown Toronto will provide a range of commercial banking services, including deposit and loan products, to Canadian businesses.
"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," said M&T Bank President Mark J. Czarnecki. "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."
M&T has provided banking services to the U.S. facilities of Canadian companies for more than 100 years. The new office positions M&T to serve the Canadian-based operations of those clients, and also to provide financial services to the increasing number of U.S. businesses operating in Canada.
John R. MacLeod, who has more than 30 years of experience in the Canadian commercial banking industry, has been appointed Canadian Principal Officer leading M&T Bank's branch in Toronto.
M&T's Canadian office can be reached at 416-572-2466.
M&T Bank, established in Buffalo, N.Y., in 1856, is one of the top 20 largest U.S. commercial bank holding companies, with approximately $68.4 billion in assets. M&T Bank operates more than 750 branches and 1800 ATMs in New York, Pennsylvania, Maryland, Virginia, West Virginia, Delaware, New Jersey and the District of Columbia. Further information is available at www.mtb.com.
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SOURCE M&T Bank Corporation