Canadian Treasurer
 
 

January 15, 2011

Laurentian Bank releases 2010 annual report

MONTREAL--Laurentian Bank has released it's annual report online with the declaration, "Have you looked at us lately?".

"It's not the same bank anymore," underlines Laurentian Bank President and CEO, Réjean Robitaille, in presenting an overview of the organization's evolution and results in fiscal 2010. "A period of sustained growth and innovation has transformed the face of the Bank, which is committed to actively pursuing its remarkably positive momentum." Posting record profitability and growth, the organization increased its net earnings per share for the sixth consecutive year — a veritable tour de force as it is the only Canadian bank to be able to make that claim.

Among other highlights, Laurent Ian Bank's 2010 Annual Report reveals that total revenues increased by 11% as compared to fiscal 2009, while earnings per share, when measured on the basis of continuing operations, were up by 23%. For their part, loans and bankers' acceptances rose by $1.8 billion in 2010, representing an increase of 11%. "In sum," adds Mr. Robitaille, "our solid performance resulted in the Bank once again meeting the financial objectives that we established at the beginning of the year."

Over the past three years, Laurentian Bank recorded substantial gains within all of its spheres of activity, as demonstrated by its excellent results.

Net income from continuing operations has increased by 36% since 2007 to reach $122.9 million by the end of fiscal 2010.

The Bank's loans and bankers' acceptances (before securitization) equal $20.3 billion today, translating into an increase over the past three years in the order of 35% that was achieved without compromising credit quality.

Since 2007, the organization's workforce has grown by 11% to reach over 3,600, with new resources having been hired in all sectors. Laurentian Bank's Annual Report is available for consultation online at laurentianbank.ca under the Laurentian Bank tab in the Investors section. The Bank is demonstrating its innovativeness this year by presenting the document using Virtual Paper technology, which converts ready to print content into user-friendly Web documents optimized for search engines. The print version of the Report, along with the other documents associated with the organization's annual meeting, will be forwarded to shareholders during the month of February.

Laurentian Bank's annual meeting of common shareholders will be held on Tuesday, March 15, 2011 at Centre Pierre-Péladeau, located at 300 de Maisonneuve Boulevard East in Montréal.

Laurentian Bank of Canada is a banking institution operating across Canada and offering its clients diversified financial services. Distinguishing itself through excellence in service, as well as through its simplicity and proximity, the Bank serves individual consumers and small and medium-sized businesses. The Bank also offers its products to a wide network of independent financial intermediaries through B2B Trust, as well as full-service brokerage solutions through Laurentian Bank Securities.

Laurentian Bank is well established in the Province of Quebec, operating the third-largest retail branch network. Elsewhere throughout Canada, it operates in specific market segments where it holds an enviable position. Laurentian Bank of Canada has more than $23 billion in balance sheet assets and more than $15 billion in assets under administration. Founded in 1846, the Bank employs more than 3,600 people.

 

 

Home | Magazine | Market | Company | eNewsletter | News |Advertising | Subscriptions
Privacy | Contact Us | Site Map

All material © Lloydmedia, Inc.
302-137 Main Street North
Markham, ON L3P 1Y2
905-201-6600 / 1-800-668-1838