Laurentian Bank (TSE:LB) has released an update.
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Laurentian Bank of Canada reported a net loss of $5.5 million for the fiscal year 2024, a stark contrast from the $181.1 million net income in 2023, largely due to restructuring and impairment charges. Despite these setbacks, the bank showed progress in the fourth quarter with a net income of $40.7 million, up from $30.6 million in the same period last year, indicating a potential recovery. The bank remains optimistic about future growth, focusing on strategic priorities and maintaining a strong customer-centric approach.
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