Pacific & Western Credit Corp. has engaged Scotia Capital Inc. as its financial advisor in its efforts to raise capital and evaluate strategic initiatives, the company said today.

“The current economic environment provides a wealth of opportunities for Pacific & Western. Spreads have widened in our target markets and more capital would allow the bank to take advantage of those opportunities and further execute our business plan of lending in markets that provide attractive risk-adjusted returns,” said David Taylor, president & CEO, in a release.

Pacific & Western is the London, Ont.-based holding company for Pacific & Western Bank of Canada, a branchless financial institution that specializes in providing financing to relatively low risk markets that include government entities including hospitals, school boards, universities and colleges, municipalities, provincial and federal government agencies, and insured residential mortgages.

IE