A quiet BC acquisition signals where Canada's biggest banks are really competing now
National Bank of Canada is moving to capture a growing slice of British Columbia's estate and trust market, announcing a deal to acquire Truvera Trust Corporation.
The transaction, struck through National Bank's subsidiary Natcan Trust Company — operating under the National Bank Trust (NBT) brand — gives the Montreal-headquartered lender a physical foothold in Vancouver and Kelowna.
For mortgage brokers advising clients on succession and housing equity, the move signals that Canada's sixth-largest bank is intensifying its push into an advice category where lenders increasingly compete with independent wealth firms.
With the Bank of Canada widely expected to hold its overnight rate at 2.25% for the sixth consecutive time on July 15, balancing an inflation rate that climbed to 2.8% in April against GDP growth of only 0.5%, lenders are sharpening their focus on fee-generating wealth services that are less sensitive to rate cycles.
Expanding the wealth platform
Founded in 2005 and headquartered in Vancouver with an additional office in Kelowna, Truvera Trust Corporation specialises in estate and trust administration, providing professional fiduciary services, including executor and trustee services, to individuals, families, executors, and beneficiaries across British Columbia.
"This acquisition is an important step in strengthening our presence in Western Canada and bringing trust and estate expertise closer to our clients," Marie-Soleil Lemieux, president and chief executive officer of National Bank Trust, said.
"Together, we are enhancing our ability to deliver integrated, high-value solutions while continuing to build an organization that supports our clients' evolving wealth and succession needs."
Don Woods, CEO of Truvera Trust Corporation, said the partnership will allow his firm to scale its existing client model.
"We share a commitment to thoughtful, personalized service, and this partnership will enable us to build on that foundation while benefiting from National Bank's scale, expertise, and resources," he said.
National Bank's Western Canada push
The acquisition adds to a string of moves that have reshaped National Bank's western footprint. The bank completed its acquisition of Canadian Western Bank in February 2025.
National Bank's Q2 2026 results confirmed that wealth management earnings rose 18% to $274 million, driven by fee-based revenue growth. The bank reported full-year adjusted profit of $4.479 billion for fiscal 2025.
The Truvera deal is designed to deepen National Bank Trust's collaboration with National Bank Financial Wealth Management and Private Banking 1859 across the Western Canadian market, creating a more integrated pipeline of services from mortgage lending through to estate settlement.
Chartered Professional Accountants of Canada data show that between 2023 and 2026, millennials and Gen Xers stand to inherit a significant financial windfall, with much of that wealth tied to surging home values — a trend that puts mortgage brokers at the centre of conversations about how that equity is protected, transferred, and reinvested.
Financial terms of the Truvera transaction were not disclosed. The deal remains subject to regulatory approvals and is expected to close in the coming months, with integration carried out progressively to ensure continuity for existing clients and staff.
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