Identity area
Type of entity
Corporate body
Authorized form of name
Industrial Development Bank
Parallel form(s) of name
Standardized form(s) of name according to other rules
Other form(s) of name
Identifiers for corporate bodies
Description area
Dates of existence
History
The Industrial Development Bank was established by an act of Parliament in 1944 to "promote the economic welfare of Canada by increasing the effectiveness of monetary action through assuring the availability of credit to industrial enterprises." In 1974, the Industrial Development Bank became the Federal Business Development Bank (now the Business Development Bank) at which time it ceased to be a subsidary of the Bank of Canada.