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Laurentian Bank reports results.

Global Banking News-14 December 2009-Laurentian Bank reports results(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 14 December 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Montreal-based Laurentian Bank (LB.TO) has reported its best results in history.

The bank on Wednesday reported fourth-quarter and full-year results and also raised its dividend to six per cent to USD0.36 cents a quarter.

The bank said that its profits in the fourth quarter ended October 31 totalled USD38.2m, an increase of 10 per cent from 2008. The bank also said that its fourth-quarter revenue increased by 17 per cent to USD178.5m.

The bank's president and chief executive officer Rejean Robitaille, said, 'We reached all our objectives for 2009 and completed another record year at Laurentian, despite weaker economic conditions in Canada.'

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Publication:Global Banking News (GBN)
Date:Dec 14, 2009
Words:159
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