The Globe and Mail reports in its Saturday, Aug. 30, edition that Laurentian Bank of Canada says it had a net income of $37.5-million in the third quarter, up from a profit of $34.1-million in the same quarter last year.
A Canadian Press dispatch to The Globe reports that the Montreal-based bank says earnings worked out to 73 cents a share for the quarter ending July 31, an increase from 67 cent a share last year.
Laurentian says total revenue for the quarter was $246.8-million, down from $256.5-million last year.
The bank says its adjusted net income came to $39.6-million or 78 cents a share, down from $43.1-million or 88 cents a share in the same quarter last year.
Analysts on average had expected an adjusted profit of 73 cents a share, according to LSEG Data & Analytics.
The bank's provisions for credit loss totalled $11.1-million in the quarter, compared with $16.3-million in the same quarter last year.
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