MONTREAL, April 2, 2014 /CNW Telbec/ - During Laurentian Bank's Annual
Meeting of Shareholders held today at the Monument-National, the Bank's
management presented a review of the results posted during the fiscal
year ended October 31, 2013, as well as an overview of the strategies
that will guide the future actions of its business segments.
Seven Consecutive Years of Record Results
Once again in 2013, the Bank posted solid results. "Our results are
attributable to the complementarity and geographic diversity of our
activities, the positive impact of our acquisitions and partnerships,
our quality of execution, and our highly targeted strategy," underlined
Réjean Robitaille, President and CEO of the Bank, during the Annual
Meeting. "Laurentian Bank now ranks 36th among the 7,000 or so banks in North America."
Business Services Growing Strong
The Bank's commercial activities, which concentrate on small and
medium-sized enterprises and real estate developers, registered strong
growth. Over the past five years, commercial loans increased by 85%,
exceeding the $5 billion mark in fiscal 2013.
Backed by its specialized teams, the Bank targets business clients
operating in certain specific niches, such as renewable energy,
agro-food processing, aeronautics, health care services and
public-private partnerships, etc. With an aim to expand its line of
financing products, the Bank introduced leasing solutions in 2013,
becoming the first Québec bank to do so.
Successful Integrations for B2B Bank
During the past fiscal year, B2B Bank concentrated its efforts on the
integration of its two acquisitions — MRS Companies and AGF Trust. The
employees of B2B Bank and the two acquired companies are all now
located in a single office in the heart of Toronto's financial
district. In the wake of these acquisitions, total loans and bankers'
acceptances grew by 61% to reach $9.0 billion, while assets under
administration increased eightfold, rising from $3.5 billion to $28.7
billion. Serving more than 27,000 financial advisors and brokers, B2B
Bank is now a pan-Canadian reference in its field recognized for the
competitiveness of its products and services.
Constantly Improving Retail Services
Laurentian Bank continued to invest in the modernization of its retail
services, with the launch of a new transactional platform on the
Internet. The organization also improved its product and service
offerings in the investment and Wealth Management. Moreover, the Bank
concluded two important partnerships in 2013 with the FADOQ Network and the Réseau des ingénieurs du Québec respectively, which provide it with access to large pools of potential
clients. At the same time, the simplification of the sector's methods
and processes will enable advisors to devote more of their time to
counselling their clients throughout all cycles of their financial
life.
Laurentian Bank Securities Affirms Its Position
A key player in fixed income products throughout Canada, Laurentian Bank
Securities (LBS) stands out thanks to its solid reputation and its
team. With the organization of its first conference for institutional
investors focused on small-cap companies, which will be held in
Montréal on April 10, LBS is further enhancing its position as a choice
firm within the small-cap business niche.
About Laurentian Bank
Laurentian Bank of Canada is a banking institution whose activities
extend across Canada. Recognized for its excellent service, proximity
and simplicity, the Bank serves one and a half million clients
throughout the country. Founded in 1846, the Bank is among the 2014
edition of the Montréal's Top Employers competition, which showcases
the city's top 25 companies offering enviable places to work. It
currently employs some 3,800 people whose talent and dedication has
made it a major player in numerous market segments.
Laurentian Bank distinguishes itself through the excellence of its
execution and its agility. Catering to the needs of retail clients via
its extensive branch network and constantly evolving virtual offerings,
the Bank has also earned a solid reputation among SMEs, larger
businesses and real estate developers thanks to its growing presence
across Canada and its specialized teams in Ontario, Québec, Alberta and
British Columbia. For its part, the organization's B2B Bank subsidiary
is a Canadian leader in providing banking and investment products and
services to financial advisors and brokers, while Laurentian Bank
Securities is an integrated broker that is also widely known for its
expert and effective services nationwide. The institution has more than
$33 billion in balance sheet assets and more than $39 billion in assets
under administration.
SOURCE Laurentian Bank of Canada
Image with caption: "Réjean Robitaille, President and Chief Executive Officer of the Laurentian Bank during the Annual Meeting of Shareholders (CNW Group/Laurentian Bank of Canada)". Image available at: http://photos.newswire.ca/images/download/20140402_C8140_PHOTO_EN_38765.jpg
