Complex sentence: In 1979, foreign banks were allowed to receive charters and London-based Barclays Bank established a new Canadian subsidiary, Barclays Bank of Canada, which was reorganised into commercial banking and corporate banking divisions in 1989 and bought by Hongkong Bank of Canada in 1996.
Split into simpler sentences: In 1979, foreign banks were allowed to receive charters and London-based Barclays Bank established a new Canadian subsidiary, Barclays Bank of Canada. It was reorganised into commercial banking and corporate banking divisions in 1989, and bought by Hongkong Bank of Canada (HBC) in 1996.