The plan hopes to position the company as an alternative bank
Deal includes 16,000 accounts, $2 billion in assets, 30 advisors
Bank cuts 2% of staff, will revamp its strategic plan
Montreal-based bank said it will stick with its current business plan, with an increased focus on efficiency
The bank said it's committed to its 2023 strategy and fiscal priorities while the review takes place
Less diversified, riskier loan portfolios leave banks more vulnerable to downturn
FINTRAC review uncovered compliance violation, imposed $487K penalty on Laurentian Bank
Laurentian Bank of Canada reported first-quarter revenue of $257.5 million
At the same time, the bank raised its dividend 10%
The bank reported third-quarter profit of $36.2 million