The Globe and Mail reports in its Tuesday, Feb. 4, edition that National Bank of Canada chief executive officer Laurent Ferreira has expanded the lender's presence in the West by acquiring Canadian Western Bank (CWB). The Globe's Stefanie Marotta writes that on Monday, Canada's sixth-largest lender closed its deal to take over the country's ninth-biggest bank, allowing National Bank to significantly expand its footprint in Alberta and British Columbia. Before the deal, 80 per cent of National Bank's business was in Quebec. After acquiring CWB, 40 per cent now comes from outside the province, according to Mr. Ferreira. Mr. Ferreira said in an interview that the acquisition is "perfectly aligned with what we're good at, which is to fund businesses and work with entrepreneurs and family-owned businesses. This is the DNA of National Bank of Canada, and CWB has built a fantastic franchise here out West, and it fits like a glove." In buying CWB, National Bank gains a customer portfolio with $37-billion in loans across 65,000 customers and 39 branches in Western Canada and Ontario. National Bank aims to save $270-million annually by the third year posttransaction by streamlining the lenders' operations and technology.