DBRS Morningstar: Laurentian Reports Lower Q1 2020 Earnings Driven by NIM Compression and Higher Expenses
Laurentian Bank of Canada (LBC or the Bank) reported Q1 2020 net income of $32.2 million, a quarter over quarter (QOQ) decline of 22%. On a sequential basis, earnings were negatively impacted by a lower net interest margin (NIM) and higher pro-visions for credit losses (PCL). NIM declined by 3 basis point (bps) to 1.81% mainly due to the adoption of IFRS 16 (Leases), the launch of the Bank’s digital high-interest savings account, and spread compression.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.