MONTREAL, Dec. 11, 2013 /CNW Telbec/ - Laurentian Bank is pleased to announce that its Annual Report for the fiscal year ended October 31, 2013 is now available on its Web site (laurentianbank.ca) under the Laurentian Bank tab in the Investors section.
Within an economic context marked by low interest rates and new regulatory constraints, Laurentian Bank succeeded in posting record results for a seventh consecutive year, exceeding the $150 million mark in adjusted net income for the first time in its history. More specifically, the Bank's adjusted net income totalled $156 million in fiscal 2013, up 11% from the previous year.
"Of course, these solid results were not achieved by accident," underlined Bank President and CEO, Mr. Réjean Robitaille. "They are directly attributable to the complementarity and geographic diversity of our activities, the positive impact of our acquisitions and partnerships, our quality of execution, and our highly targeted strategy. Our positive performance also translated into a 52% increase in the dividend paid to our shareholders over the course of the past five years."
- Launch of leasing products to the line of financing solutions offered to commercial clients, providing businesses across Canada with an alternate means of acquiring equipment;
- Addition of new specializations for business financing activities especially in the food processing, metals processing and aeronautics sectors;
- Establishment of partnerships with the FADOQ network, the largest federation of people aged 50 and over in Québec, and the Réseau des ingénieurs du Québec;
- Reinforcement of Laurentian Bank Securities and Capital Markets' presence in the Institutional Equity and Fixed Income markets;
- Pursuit of the integration of MRS Companies and AGF Trust.
Three Strategic Pillars: Focus, Agile Growth and Execution
Three fundamental pillars serve to guide the Bank in making its selective investments, in advancing its growth, and in furthering its continuous development. Through its focus, the organization is able to gain extensive client knowledge, to understand how to best serve them, and to invest in the best possible ways. For their part, a culture of proximity and a flexible organizational structure provide the Bank with the agility needed to foster its development. Finally, the organization's effective business plan and proactive risk management practices form the basis of its excellence of execution.
About Laurentian Bank
Laurentian Bank of Canada is a banking institution whose activities extend across Canada. Recognized for its excellent service, proximity and simplicity, the Bank serves one and a half million clients throughout the country. Founded in 1846, it employs some 4,000 people whose talent and dedication has made it a major player in numerous market segments. The institution has $34 billion in balance sheet assets and more than $37 billion in assets under administration.
Laurentian Bank distinguishes itself through the excellence of its execution and its agility. Catering to the needs of retail clients via its extensive branch network and constantly evolving virtual offerings, the Bank has also earned a solid reputation among SMEs, larger businesses and real estate developers thanks to its growing presence across Canada and its specialized teams in Ontario, Québec, Alberta and British Columbia. For its part, the organization's B2B Bank subsidiary is a Canadian leader in providing banking and investment products and services to financial advisors and brokers, while Laurentian Bank Securities is an integrated broker that is also widely known for its expert and effective services nationwide.
SOURCE: Laurentian Bank of Canada
For further information:
Vice-President, Public Affairs, Communications and Investor Relations
Office: (514) 284-4500, ext. 7511