Laurentian Bank of Canada Reports Higher Q1 2021 Earnings Driven by Lower Expenditures and PCL
Laurentian Bank of Canada (LBC or the Bank) reported Q1 2021 net income of $44.8 million, a strong quarter-over-quarter (QOQ) increase of 22%, driven by growth in revenue, lower provisions for credit losses (PCL), and slightly lower operating expenses. Notably, the Bank's adjusted efficiency ratio improved by a further 100 basis points (bps) QOQ to 68.9% during Q1 2021 as the Bank continues to implement tighter cost controls.
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.