Laurentian Bank reports $32M second quarter profit

Laurentian Bank of Canada says it had a net income of $32.3 million in the second quarter compared with a net loss of $117.5 million in the same quarter last year.

The Montreal-based bank says earnings worked out to 69 cents per share for the quarter ending April 30, compared with a loss of $2.71 a share last year.

Laurentian says total revenue for the quarter was $242.5 million, down from $252.6 million last year.

Chief executive Éric Provost says the bank is satisfied with progress so far as it marks a year into its strategic plan, but that there’s still more work to do.

The bank says its adjusted net income came to $34 million, or 73 cents per share, down from $40.5 million, or 90 cents per share in the same quarter last year.

Loans, net of allowances, stood at $35.5 billion as of April 30, 2025, an increase of $0.4 billion since October 31, 2024. There were $17.5 billion of commercial loans, $2 billion of personal loans and $16.1 billion of residential mortgage loans.

The bank’s provisions for credit loss totalled $16.7 million in the quarter, down from $17.9 million in the same quarter last year.

Laurentian had $24.2 billion in assets under administration as of April 30, 2025.

With files from IE.

Craig Lord, The Canadian Press

Craig Lord is a reporter with The Canadian Press, a national news agency headquartered in Toronto and founded in 1917.