ABA: Potential Sale by National Bank

paul2d · Post by **paul2d** » Wed Mar 13, 2024 3:24 am

National Bank of Canada, which owns ABA, is pondering a potential sale of part or all of its position in ABA. Report from BNN/Blomberg 12 March 2024: https://www.bnnbloomberg.ca/national-ba ... -1.2045478

Roryborealis · Post by **Roryborealis** » Wed Mar 13, 2024 4:16 am

paul2d wrote: ↑Wed Mar 13, 2024 3:24 am National Bank of Canada, which owns ABA, is pondering a potential sale of part or all of its position in ABA. Report from BNN/Blomberg 12 March 2024: https://www.bnnbloomberg.ca/national-ba ... -1.2045478

According to the article, NBC has increased its stake over time as results have been favorable. So why get out now? Perhaps a partial sale to mitigate whatever risk their internal soothsayers are forecasting (or are already seeing)? Or raise some handy liquid. Who knows, maybe they planned all along to sell off the unit once it grew big enough.

ressl · Post by **ressl** » Wed Mar 13, 2024 4:39 am

I got a bit suspicious about ABA the last few months, changing countless small shops into ATM self servicing centers. I have no idea what they pay on rent for them, but given the insane amount of places that popped up like mushrooms in the last few months, I am scratching my head how this can pay off ever. For now I see 2 reasons, why they do such an overkill of availability:
1) Management screwed it up and before the thing blows up they try to get rid of it
2) they opened those centers by purpose to drive the numbers up for a sale of the company
3) I have no idea about the banking sector and it has nothing to do with anything above, nor it is related to this topic at all

Stravaiger · Post by **Stravaiger** » Wed Mar 13, 2024 7:41 am

National Bank of Canada denies media report of talks to sell its Cambodian unit
March 12, 202410:55 PM GMT+7Updated 9 hours ago

https://www.reuters.com/markets/deals/n ... 024-03-12/

pissontheroof · Post by **pissontheroof** » Wed Mar 13, 2024 7:59 am

Yes , ABA is too full of themselfs , all the new banking centers all over the places.
Yes , suspicious ….. No wonder !
I want to switch to another bank anyway - but
They do have many sweet looking “ cashiers “
But I have a couple of fixed deposits waiting for them to pay off
I don’t like their stupid policy if a person dies
THEY just keep your money !

Even if it’s a joint account , if the other 1/2 is a minor ..
No wonder they are so … all over the place in your face !

Everywhere you look is ABA , … get off your moto and go inside and cool off !
Not a single “ drive up “ !
Every youtube video I see starts with a speil about ABA .

Jerry Atrick · Post by **Jerry Atrick** » Wed Mar 13, 2024 8:47 am

ressl wrote: ↑Wed Mar 13, 2024 4:39 am I got a bit suspicious about ABA the last few months, changing countless small shops into ATM self servicing centers. I have no idea what they pay on rent for them, but given the insane amount of places that popped up like mushrooms in the last few months, I am scratching my head how this can pay off ever. For now I see 2 reasons, why they do such an overkill of availability:

Automation is the way of the future; one self service machine replaces three slovenly and low skilled tellers in the bank every day

Less branches and more ATM self servicing centers will continue to be the trend for all banks, globally, until they no longer exist as we knew them 20 years ago

Kammekor · Post by **Kammekor** » Wed Mar 13, 2024 8:49 am

Stravaiger wrote: ↑Wed Mar 13, 2024 7:41 am National Bank of Canada denies media report of talks to sell its Cambodian unit
March 12, 202410:55 PM GMT+7Updated 9 hours ago

https://www.reuters.com/markets/deals/n ... 024-03-12/

Of course they deny it. That statement means nothing.

WildAlaskaKen · Post by **WildAlaskaKen** » Wed Mar 13, 2024 8:52 am

ressl wrote: ↑Wed Mar 13, 2024 4:39 am I got a bit suspicious about ABA the last few months, changing countless small shops into ATM self servicing centers. I have no idea what they pay on rent for them, but given the insane amount of places that popped up like mushrooms in the last few months, I am scratching my head how this can pay off ever. For now I see 2 reasons, why they do such an overkill of availability:
1) Management screwed it up and before the thing blows up they try to get rid of it
2) they opened those centers by purpose to drive the numbers up for a sale of the company
3) I have no idea about the banking sector and it has nothing to do with anything above, nor it is related to this topic at all

THats three reasons.

But how about this one: their market share has icreased dramaticly and they need more ATMs to service their customers, and the increasing numbers of tourists.

God, what a horrible comedown for another bitchaboutlife post.

Bluenose · Post by **Bluenose** » Wed Mar 13, 2024 9:16 am

Kammekor wrote: ↑Wed Mar 13, 2024 8:49 am
Stravaiger wrote: ↑Wed Mar 13, 2024 7:41 am National Bank of Canada denies media report of talks to sell its Cambodian unit
March 12, 202410:55 PM GMT+7Updated 9 hours ago

https://www.reuters.com/markets/deals/n ... 024-03-12/
Of course they deny it. That statement means nothing.

But statements by "people asking not to identified" are to be trusted?

Cooldude · Post by **Cooldude** » Wed Mar 13, 2024 9:33 am

Less branches and more ATM self servicing centers will continue to be the trend for all banks, globally, until they no longer exist as we knew them 20 years ago

This trend has hit the States in a big way also since Covid. Lots of empty bank buildings around that aren't really good for any other businesses to move into. Also, the quality of bank tellers has decreased significantly if they can find anyone who wants the job. I do all of my banking internationally from my phone. No need to go into a bank that much anymore.

ABA: Potential Sale by National Bank

ABA: Potential Sale by National Bank

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