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Company: Laurentian Bank of Canada

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Laurentian bank logo on building

Deal includes 16,000 accounts, $2 billion in assets, 30 advisors

Laurentian bank logo on building

Bank cuts 2% of staff, will revamp its strategic plan

Laurentian bank logo on building

Montreal-based bank said it will stick with its current business plan, with an increased focus on efficiency

Bank buildings

The bank said it's committed to its 2023 strategy and fiscal priorities while the review takes place

  • By: IE Staff
  • July 11, 2023 July 11, 2023
  • 17:49
handshaking and exchanging contract documents

Less diversified, riskier loan portfolios leave banks more vulnerable to downturn

paper with words anti-money laundering

FINTRAC review uncovered compliance violation, imposed $487K penalty on Laurentian Bank

Businessman hand showing financial report on table

Laurentian Bank of Canada reported first-quarter revenue of $257.5 million

Modern urban skyscrapers in downtown Chicago from below to the blue summer sky. Sun reflecting in the glass facades of the urban futuristic buildings. Chicago, Illinois, USA

At the same time, the bank raised its dividend 10%

Business and financial report with laptop Accounting economic

The bank reported third-quarter profit of $36.2 million


The company also cut its dividend to gain more flexibility for the business