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Versabank T.VBNK

Alternate Symbol(s):  VBNK

Financial Services Banks - Global
VersaBank is a Canada-based chartered bank. The Bank provides commercial lending and banking services in Canada and the United States, as well as cybersecurity services and banking and financial technology development services through the operations of its wholly owned subsidiary DRT Cyber Inc. (DRTC). It operates through two segments: Digital Banking and DRTC (cybersecurity services). The Digital Banking segment obtains its deposits and provides its loans and leases electronically via deposit and lending solutions for financial intermediaries. Its loan portfolio includes point-of-sale loans and leases, commercial real estate mortgages, commercial real estate loans and public sector and other financing. The DRTC segment develops solutions to address the volume of cyber threats challenging financial institutions, multi-national corporations and government entities. It also offers receivable purchase program (RPP) funding solution for point-of-sale finance companies.


TSX:VBNK - Post by User

Versabank
Bullboard Posts
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(9)
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Post by Jsboutinon Aug 26, 2020 9:22am
310 Views
Post# 31454441

Q3 Results

Q3 Results
Strong results yet again. 3 key takeaways:

-PCLs at close to 0 yet again. I'm a bit baffled, but it sorry of makes sense given the business model.
-Loan book still shrinking. The presentation mentions that management is keeping cash on hand as an abundance of caution, but I'm wondering if it's really a choice given how the environment is surely impacting their POS financing partners.
-Still long, this stock is incredible value.
Bullboard Posts
Dealroom for high-potential pre-IPO opportunities