MONTREAL, March 19, 2013 /CNW Telbec/ - During Laurentian Bank's Annual
Meeting of Shareholders held today at the Montréal Science Centre, the
organization's senior management presented an overview of results for the
fiscal year ended October 31, 2012. The executives also summarized the
principal elements of the Bank's strategy aimed at supporting business growth
over the years to come.
"Today, Laurentian Bank is well capitalized, and its activities are very
diversified in terms of both market segments and geographical reach. We now
rank among the Top 40 banks in North America," underlined Bank President and
CEO, Réjean Robitaille. "Thus, we are on a very solid financial footing, and
we are operating in accordance with a clear, highly targeted strategy that has
certainly proven itself. We are in an excellent position to successfully
pursue our growth."
A Fiscal Year Marked by Growth
All of its business sectors participated actively again in 2012, in the
diversification of the Bank's revenues and profitability. The Retail and
SME-Québec sector continued to successfully deploy its proximity approach,
with its passion for delivering excellent client service being clearly
recognized and appreciated. In fact, according to satisfaction surveys
conducted within the Bank's branch network, 95% of clients indicated that they
are "satisfied" or "very satisfied" with the quality of service received. In
the Real Estate and Commercial sector, the loan portfolio is now valued at
more than $3 billion. This business segment favours a strategy of
specialization in certain market segments for certain types of financing
products where and with which it holds a competitive advantage. For its part,
Laurentian Bank Securities extended its services to Winnipeg in 2012 so as to
accelerate the development of business in that part of the country.
Finally, B2B Bank made two major acquisitions — MRS Companies and AGF Trust.
In the wake of these acquisitions, B2B's loans and bankers' acceptances grew
by 61% to reach $9 billion, and its deposits by 37% to now total $13 billion.
B2B Bank's assets under management also grew markedly, from $3 billion to
close to $24 billion.
A Positive Balance Sheet Over the Past Five Years
Over the course of the past five years, Laurentian Bank almost doubled its
assets, which increased from $18 billion to close to $35 billion due primarily
to the internal growth of its operations. In fact, all key performance
indicators have shown a net upward trend since 2008, net earnings climbing by
37% between 2008 and 2012. The Bank also posted significant growth with
respect to its loan and deposit portfolios, which increased by 86% and 57%
respectively over the same period.
Showing total confidence in its means and future, Laurentian Bank is the only
Canadian bank to have increased its quarterly dividend each year since 2007.
The Bank's shareholders have benefited from a dividend increase of 59% over
the last five years.
The Bank currently operates 240 points of service across Canada, and more than
50% of its profitability is generated outside Québec.
About Laurentian Bank
Laurentian Bank of Canada is a pan-Canadian banking institution that has more
than $34 billion in balance sheet assets and $36billion in assets under
administration. Founded in 1846, Laurentian Bank was selected in 2012 as one
of the 10 winners of the Canada's Passion Capitalists program in recognition
of its sustained success through the promotion of passion within its ranks.
The Bank employs more than 4,200 people.
Recognized for its excellent service, proximity and simplicity, Laurentian
Bank serves more than one million clients in market segments in which it holds
an enviable position. In addition to occupying a choice position among
consumers in Québec, where it operates the third largest branch network, the
Bank has built a solid reputation across Canada in the area of real estate and
commercial financing thanks to its teams working out of more than 35 offices
in Ontario, Québec, Alberta and British Columbia. Its subsidiary, B2B Bank,
is a Canadian leader in providing banking products as well as investment
accounts and services to financial advisors and brokers, while Laurentian Bank
Securities is an integrated broker, widely known for its expertise and
Gladys Caron Vice-President, Public Affairs, Communications and Investor
Relations Office: (514) 284-4500, ext. 7511 email@example.com
Image with caption: "Réjean Robitaille, President and Chief Executive Officer
of Laurentian Bank. (CNW Group/Laurentian Bank of Canada)". Image available
SOURCE: Laurentian Bank of Canada
To view this news release in HTML formatting, please use the following URL:
CO: Laurentian Bank of Canada
NI: FIN ERN FIN
-0- Mar/19/2013 14:05 GMT
Press spacebar to pause and continue. Press esc to stop.