The head offices of Laurentian Bank in Montreal. The bank says earnings worked out to 73 cents per share for the quarter ending July 31, an increase from last year.Christinne Muschi/Reuters
Laurentian Bank of Canada LB-T says it had a net income of $37.5-million in the third quarter, up from a profit of $34.1-million in the same quarter last year.
The Montreal-based bank says earnings worked out to 73 cents per share for the quarter ending July 31, an increase from 67 cent per share last year.
Laurentian says total revenue for the quarter was $246.8-million, down from $256.5-million last year.
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The bank says its adjusted net income came to $39.6-million, or 78 cents per share, down from $43.1-million, or 88 cents per share in the same quarter last year.
Analysts on average had expected an adjusted profit of 73 cents per share, according to LSEG Data & Analytics.
The bank’s provisions for credit loss totalled $11.1-million in the quarter, compared with $16.3-million in the same quarter last year.