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Laurentian Bank Concludes Review of Strategic Options
Laurentian Bank Concludes Review of Strategic Options Canada NewsWire MONTR&#...
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[{"type":"text","content":"\n \n \n \n Laurentian Bank Concludes Review of Strategic Options\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n MONTRÉAL\n \n ,\n \n \n Sept. 14, 2023\n \n \n /CNW/ - Laurentian Bank (TSX: LB) (the \"Bank\") announced today that it has completed its review of strategic options aimed at maximizing shareholder and stakeholder value with the support of independent financial and legal advisors. Based on the review, the Board, with the support of the Executive Management Team, has unanimously concluded that the best path forward to drive shareholder value is to embark on an accelerated evolution of its current strategic plan with an increased focus on efficiency and simplification.\n \n \n Laurentian Bank is a much stronger organization today than it was three years ago. Building on the momentum of its turnaround, and its strong track record of delivering against its plan, the Bank will be simplifying its organizational structure and focusing on where it can win by allocating capital and resources to its highest grossing businesses and specialized products while maintaining a relentless focus on the customer.\n \n \n \n Track Record of Execution\n \n \n \n Two years ago, Laurentian Bank launched a new three-year strategic plan to reboot itself for the future. Since then, the Bank has delivered on key milestones, including exceeding all its financial targets, closing its customers' top five digital pain points, and growing Commercial Banking with a focus on its areas of specialization. It maintains a strong capital and liquidity position, and its funding and deposit base are strong, stable, and diversified.\n \n \n Having completed two years of the plan, coupled with a changing macroeconomic environment and evolving customer expectations, the Bank's Board of Directors and Executive Management Team felt it was prudent to embark on a thorough review of strategic options to determine the best path forward to maximize shareholder and stakeholder value.\n \n \n Throughout that process it considered a variety of options, including ...