Laurentian’s profit rises in first quarter
MONTREAL – Laurentian Bank of Canada (TSX:LB) had $35.5 million of net income in its fiscal first quarter, up eight per cent from a year earlier.
The Montreal-based bank’s profit amounted to $1.16 per share, up from $1.07 per share or $32.8 million in 2013, before adjustments.
Excluding some items, Laurentian’s adjusted earnings for the quarter ended Jan. 31 were $39.3 million or $1.29 per share.
That compared with $39.1 million or $1.30 per share last year.
Total revenue was up one per cent, rising to $216.1 million compared with $213.9 million in the first quarter of fiscal 2013.
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