Laurentian Bank of Canada (LB.TO), posted a loss in the second quarter on Friday, reversing a year-ago profit, after revenue dropped.
For the second quarter, net loss was $20.59 million or $0.50 per share compared to an income of $32.33 million or $0.69 per share last year.
Quarterly revenue declined to $213.66 million from $242.52 million in the previous year.
On an adjusted basis, income was $22.64 million or $0.46 per share compared to $33.96 million or $0.73 per share a year earlier.
Revenue was $236.16 million compared to $242.52 million a year before.
"This quarter marked meaningful progress in preparing for our transactions with Fairstone Bank and National Bank. We remain confident in closing these transactions by late 2026", said Éric Provost, President and Chief Executive Officer of Laurentian Bank of Canada. "As we continue to execute and position the Bank for a sustainable, commercial specialty-focused future, our core businesses are delivering high-quality growth. Our teams remain fully committed to supporting our customers with consistency and care, while managing our operations with discipline."
On the Toronto Stock Exchange, shares of Laurentian Bank of Canada closed Friday's trading 0.12 percent higher at C$40.46
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