Leadership Laurentian Bank conducts ‘strategic options review’
MONTREAL – Laurentian Bank says its leadership team is reviewing the company’s strategic options to maximize shareholder value.
In a Tuesday press release, the bank says it does not intend to disclose further developments until the investigation is complete.
Laurentian says it has a strong capital and liquidity position, as well as a strong, stable and diversified funding and deposit base.
It says management remains committed to executing the bank’s strategy and priorities for the fiscal year.
The Montreal-based bank saw its profits decline in the second quarter ending April 30, while revenues fell slightly and loan loss provisions rose.
Laurentian Bank has progressed through a three-year strategic plan it launched in late 2021 to modernize operations, including the rollout of its first mobile banking app, as it appears to be able to catch up with offerings from other Canadian banks.
This report from The Canadian Press was first published on July 11, 2023.
Companies in this story: (TSX:LB)
