Toronto-based B2B Bank completed its amalgamation with AGF Trust Company on Sept. 1, 2013, the bank announced on Tuesday.

The bank first acquired AGF in August 2012. The merger will allow the firms to speed up the integration of their business activities including, harmonizing products and services and the transitioning of client accounts.

“With the acquisitions of AGF Trust and MRS Trust earlier, we have added considerable breadth and depth to our organization. B2B Bank is now firmly positioned for growth across all lines of business,” said François Desjardins, president and chief executive officer, B2B, in a release. “Because our firms have a similar advisor and broker-focused business model, we are able to deliver an even more comprehensive range of products and services to financial professionals, serving Canadians from coast-to-coast.”

B2B moves up to bank status

B2B Bank now serves 900,000 account holders and employs 800 people across Canada. The bank has over $13 billion in consumer deposits, $9 billion in loans and mortgages and more than $24 billion in assets under administration.