Laurentian Bank posts $55.7M in earnings in Q4, revenue up slightly from year ago
By The Canadian Press on December 9, 2022.
MONTREAL – Laurentian Bank of Canada says it earned $55.7 million in its most recent quarter as its revenue rose and provision for credit losses eased slightly. The Montreal bank says its net income for its fourth quarter compared with a net loss of $102.9 million at the same time last year and was coupled with $257.1 million in revenue, up from $250.4 million last year. Its diluted earnings per share for the period ended Oct. 31 amounted to $1.26 compared with a diluted loss per share of $2.39 a year earlier, when the bank was completing a strategic review of its operations. Adjusted net income was $57.8 million and adjusted diluted earnings per share were $1.31 compared with $47.8 million and $1.06 a year prior. Analysts on average had expected adjusted diluted earnings of $1.24 cents per share and $54.4 in net income, according to financial markets data firm Refinitiv. Its provision for credit losses totalled $17.8 million compared with $24.9 million a year prior. This report by The Canadian Press was first published Dec. 9, 2022. Companies in this story: (TSX:LB) 9-8
