Laurentian Bank (TSE:LB) has released an update.
Laurentian Bank of Canada has announced a significant net loss of $117.5 million for the second quarter of 2024, a stark contrast to the net income of $49.3 million in the same quarter of the previous year. The Bank has undergone a major restructuring, resulting in impairment and restructuring charges that have heavily impacted its financial performance. Despite these challenges, the Bank’s CEO highlighted a strong liquidity position and the forthcoming unveiling of a strategic plan aimed at future growth and resilience.
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