Laurentian Bank reports $32 million second quarter profit
A Laurentian Bank sign is seen in Montreal, Friday, Aug. 30, 2024. THE CANADIAN PRESS/Christinne Muschi
MONTREAL — Laurentian Bank of Canada says it had a net income of $32.3 million in the second quarter compared with a net loss of $117.5 million in the same quarter last year.
The Montreal-based bank says earnings worked out to 69 cents per share for the quarter ending April 30, compared with a lost of $2.71 a share last year.
Laurentian says total revenue for the quarter was $242.5 million, down from $252.6 million last year.
Chief executive Éric Provost says the bank is satisfied with progress so far as it marks a year into its strategic plan, but that there's still more work to do.
The bank says its adjusted net income came to $34 million, or 73 cents per share, down from $40.5 million, or 90 cents per share in the same quarter last year.
The bank's provisions for credit loss totalled $16.7 million in the quarter, down from $17.9 million in the same quarter last year.
This report by The Canadian Press was first published May 30, 2025.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CBC
13 minutes ago
- CBC
Read all about it: Charlotte County's historic newspaper makes comeback in print form
Mary Casement of Saint Andrews, N.B., says "Oh, that'll be in the Courier next week," was once a popular phrase in Charlotte County. The phrase refers to the St. Croix Courier, the area's iconic weekly newspaper. It is now making a comeback in a free monthly print edition — a rarity in today's media landscape. Casement, who began reading the newspaper 50 years ago, said the saying was used as a joke in those days when somebody acted in a questionable manner. "You always thought about what you were doing in relation to having ... the whole county know about it," she said, noting that the court report was always the most popular item in the publication. She watched as the paper got smaller and smaller over the years, then vanished. An online version emerged last year after the paper was sold to the local television station, CHCO-TV. Casement said seeing the over 100-year-old newspaper survive is extremely important to her. She is glad to get a printed paper again and thinks the newspaper will bind the community. "Digital information just doesn't have the same feel, literally, as paper," she said. Vicki Hogarth, the news director of CHCO-TV, said the Courier started printing in 1865 — before Confederation. Hogarth said that legacy needed to be preserved. A federal grant will allow the paper to be printed for a year. "It will be more of a curated snapshot of Charlotte County in the moment we're living in," Hogarth said. She said the grant is just over $20,000. Hogarth said the paper will be printed on the first of every month and will have local news, features about people and businesses, long-form investigative stories and a cartoon column. "We're going to be taking the paper now to locations we've established across the county and growing it from there," she said. Copies will be available at local coffee shops, convenience stores and pickup spots across the county. The online version will continue to be the source of daily news, she said. The first edition will officially be circulated on June 1, however, a few copies are already out, she said. Hogarth said the first edition has about 12 pages and features work from 10 reporters. She said the plan is to add some extra pages with new writers, and possibly get the puzzle section to return. There will be 3,000 copies of the June edition More will be added in the later months depending on the demand. "You know, when you think we're going to print a paper in 2025, are we crazy? I definitely had that thought lying awake at three in the morning many, many times. "But we listen to our community and that's what they wanted, so I really believe it will be successful because it's not a gamble when you already know that people are craving it," said Hogarth.
CBC
18 minutes ago
- CBC
Trump's new tariff threat ‘punch in the gut' to Canada's steel industry: CSPA
Catherine Cobden, head of the Canadian Steel Producers Association, says U.S. President Donald Trump's new threat, to double tariffs steel and aluminum tariffs to 50 per cent, 'completely unjustified' and Ottawa should quickly impose retaliatory tariffs. Read more:
CTV News
27 minutes ago
- CTV News
Province hopes to grow tourism economy to $25B by 2035 through sports events: ministers
Alberta cabinet ministers Andrew Boitchenko and joseph Schow at the Calgary Chamber of Commerce earlier this week, discussing the role sporting events can have in boosting provincial tourism numbers. It's an ambitious goal -- grow Alberta's tourism economy to $25 billion by 2035 -- and a pair of provincial ministers say sporting events are set to play a bigger role. During a fireside chat hosted by the Calgary Chamber of Commerce, ministers Joseph Schow and the new tourism and sports minister Andrew Boitchenko fielded questions about facility upgrades, funding like the Olympic Oval -- and Calgary's need for a new soccer field. The ministers didn't offer any timelines, but said all three levels of government need to commit. On the topic of attracting international sporting events, the jobs and economy minister said Alberta must choose wisely to avoid unwanted cost overruns and opportunities that fit best. Schow added that he thought Calgary really missed out hosting the 2026 Winter Olympics. '(It was a) huge missed opportunity,' said Schow, 'and to this day, it breaks my heart. Calgary residents voted down the opportunity to submit a 2026 Winter Olympic bid, which ultimately went to Italy. 'It looks like it (the Winter Olympics) is spoken for well into 2040.' Schow also presented former Tourism Calgary CEO Cindy Ady with the King's Coronation medal in recognition of her work promoting the city.
