Levis, Quebec-based Desjardins Group is acquiring the mortgage portfolio of La Capitale.
Under the deal, 6,376 mortgages will be transferred to Desjardins Group.
The transaction will close Feb. 1.
La Capitale mortgage holders can expect to receive a letter after Feb. 3, notifying them of the transfer. Their loans will be transferred automatically and their financing conditions will remain the same.
Financial terms of the deal were not disclosed.