MONTREAL, Jan. 13 /CNW Telbec/ - Laurentian Bank is pleased to announce
that its Annual Report for the fiscal year ended October 31, 2010 is
now available in PDF format on its Internet site.
"It's not the same Bank anymore," underlines Laurentian Bank President
and CEO, Mr. 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, Laurentian 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."
Three Years of Vigorous and Sustained Growth
Over the past three years, Laurentian Bank recorded substantial gains
within all of its spheres of activity, as demonstrated by its excellent
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
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.
About Laurentian Bank
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
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
SOURCE LAURENTIAN BANK OF CANADA
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