Laurentian Bank posts record results for a seventh consecutive year and surpasses the $150 million mark in adjusted net income for the first time in its history. The Bank also pursues the integration of MRS Companies and AGF Trust, and it introduces new financing solutions for businesses. The institution’s dividend on common shares reaches $1.98, up by 52% over five years.
The Bank posts record growth for a third consecutive year, with loans and deposits of close to $5 billion and record net income of $113 million. Furthermore, it obtains an exclusive contract for the operation of ABMs in the Montréal subway system. Today, the organization operates a total of 72 machines throughout the Société de transport de Montréal network. Moreover, in recognition of its contribution to the province’s development, Laurentian Bank is inducted into the Québec Business Hall of Fame by the Québec Federation of Chambers of Commerce.
The Bank posts record net income for the fourth consecutive year totaling $122.9 million, while its earnings per share rise for the sixth year in a row. It also opens its second generation financial services boutique in Québec City and LaSalle, in addition to inaugurating its Laurentian Bank Career Station, a unique and innovative talent recruitment centre permanently located at the Berri-UQÀM subway station. As well, the Bank is named the second most admired banking institution among Québecers for a third consecutive year.
The Bank proceeds with the acquisition of MRS Companies via its B2B Trust subsidiary and concludes a Mackenzie mutual fund distribution agreement for the Retail and SME Financial Services sector. Moreover, the organization posts notable growth over the last five years, with its balance sheet assets up by 40%, its total revenues by 42%, and net income by 81%. The Bank is also among the Québec and Atlantic region winners of the 2011 Most Admired Corporate Cultures competition.
B2B Trust becomes federally chartered B2B Bank to better reflect the nature of its loan and deposit activities. Laurentian Bank proceeds with the acquisition of AGF Trust, which consolidates B2B Bank’s positioning as leading provider of products and services to independent financial advisors across Canada. In order to reinforce its capitalization, Laurentian Bank goes ahead with capital issues in the order of $482 million, and its total assets surpass the $35 billion mark.
Laurentian Bank posts record results for an eighth consecutive year, with activities conducted outside Québec accounting for 50% of the organization’s profitability. The integration of MRS Companies and AGF Trust is completed, thereby doubling the size of B2B Bank and reinforcing its leadership position within its market. The Bank launches two new and very promising product lines during the course of the year — equipment financing products intended primarily for small and medium-sized enterprises, and alternative mortgage solutions offered to mortgage brokers by B2B Bank.