Laurentian Bank of Canada is reporting a loss for the second quarter ended April 30.

The net loss for the quarter was $18.4 million, or 95¢a share. That is down from a profit $22 million, or 82¢ a share, a year ago.

Laurentian says the net loss for the quarter takes into account an additional $70 million provision for credit losses related to the bank’s exposure to Teleglobe, as well as potentially problematic loans found in its commercial portfolio.

Without this provision, the bank says net income for the quarter would have been $24.1 million or $0.88 diluted per common share.

Revenues rose to $153.6 million from $146.9 million in the corresponding quarter last year.

Return on common shareholders’ equity was -14.4% for the quarter compared to 13.3% in 2001.