Zag Bank

Zag Bank is a chartered Canadian bank that is going to end its business by the second quarter of 2019.[1] Previously known as Bank West, it was founded in High River, Alberta in 2002. The bank is wholly owned by Desjardins Group.

This article is about the Canadian bank. For the Australian bank, see Bankwest. For the United States bank, see Bank of the West.
Zag Bank
Subsidiary
IndustryBank
Founded2002
HeadquartersCalgary, Alberta
Key people
David Raju, president & chief executive officer
ProductsFinancial services
Number of employees
66
ParentDesjardins Group
Websitewww.zagbank.ca

The Western Financial Group initially focused on insurance consolidation, but expanded into banking in 2002, when Bank West was established. The bank maintained offices in High River and Winnipeg. The bank acquired Ubiquity Bank in November 2007 and Agrifinancial in February 2009.[2] In 2010, Western Financial was acquired by the Desjardins Group[3] and the transaction was completed in 2011.[4] In 2014, the Desjardins Group changed the name of Bank West to Zag Bank.[5]

See also
  • List of Canadian banks

References
  1. "Zag Bank to wind down its operations". Cision Canada. Retrieved 2018-11-05.
  2. "Western Financial Group Inc. and Bank West Announce Completion of Acquisition of AgriFinancial". Bank West. Retrieved 2011-03-07.
  3. "UPDATE: Desjardins Boosts Western Presence With Western Financial Buy DECEMBER 24, 2010". Wall Street Journal. 2010-12-24. Retrieved 2011-03-07.
  4. "Desjardins Financial Group Acquires 95.5 % of Outstanding Common Shares of Western Financial Group". Western Financial Group. 2011-04-19. Retrieved 2014-01-02.
  5. "2014 Desjardins Group Annual Report (see pages 54 and 144 of the Annual Report in PDF format)". Desjardins Group. Retrieved 2015-05-27.
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