Laurentian Bank of Canada increases its prime rate

MONTREAL, QUEBEC--(Marketwired - Jan. 17, 2018) - Laurentian Bank of Canada (TSX:LB) increases its prime lending rate by 25 basis points from 3.20% to 3.45%, effective January 18, 2018.

About Laurentian Bank

Laurentian Bank of Canada is a financial institution whose activities extend mainly across Canada. Founded in 1846, its mission is to help customers improve their financial health and it is guided by values of proximity, simplicity and honesty.

The Bank serves one and a half million clients throughout the country and employs more than 3,700 individuals, which makes it a major player in numerous market segments. The Bank caters to the needs of retail clients via its branch network based in Quebec. The Bank also stands out for its know-how among small and medium-sized enterprises and real estate developers owing to its specialized teams across Canada. Its subsidiary B2B Bank is, for its part, one of the major Canadian leaders in providing banking products and services and investment accounts through financial advisors and brokers. Laurentian Bank Securities offers integrated brokerage services to a clientele of institutional and retail investors.

The Bank has $47 billion in balance sheet assets and $32 billion in assets under administration.