Raymond James buys AIB CA

ST. PETERSBURG — Raymond James Bank, a subsidiary of Raymond James Financial Inc. (symbol: RJF), acquired Allied Irish Bank's Canadian operations this week. Financial terms were not disclosed.

The assets being acquired include $650 million in loan commitments, of which $500 million is outstanding, according to a release from Raymond James. The St. Petersburg bank claims that the acquired assets are “highly diverse and performing well.”

The purchase will expand Raymond James Bank's corporate and real estate portfolio by 10%, according to Thomas Macina, an executive vice president with Raymond James Bank.