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Laurentian Bank reports solid third quarter results
Highlights of the third quarter of 2015 Adjusted diluted earnings per share up 10% ye...
About this update from Laurentian Bank Of Canada
[{"type":"text","content":"\n\nHighlights of the third quarter of 2015 \n\n\nAdjusted diluted earnings per share up 10% year-over-year \nStrong organic growth:\n\nB2B Bank mortgages up 23% year-over-year \nLoans to businesses up 16% year-over-year \nContinued strong credit performance with loan losses of $7.0 million, 33% lower than last year \n\n\n\n\n\nFOR THE THREE MONTHS ENDED \n\n\n\n\n\n\nJULY 31 2015 \n\n\n\nJULY 31 2014 \n\n\n\nVARIANCE \n\n\n\n\n\n\n\n\n\n\nReported basis \n\n\n\n\n\n\n\n\n\nNet income \n\n\n$44.2\n\n\n\n$40.1\n\n\n\n10%\n\n\n\n\nDiluted earnings per share \n\n\n$1.44\n\n\n\n$1.27\n\n\n\n13%\n\n\n\n\nReturn on common shareholders' equity \n\n\n12.1%\n\n\n\n11.2%\n\n\n\n0.9%\n\n\n\n\n\n\n\n\n\n\nAdjusted basis1 \n\n\n\n\n\n\n\n\n\nAdjusted net income \n\n\n$45.3\n\n\n\n$42.4\n\n\n\n7%\n\n\n\n\nAdjusted diluted earnings per share \n\n\n$1.48\n\n\n\n$1.35\n\n\n\n10%\n\n\n\n\nAdjusted return on common shareholders' equity \n\n\n12.4%\n\n\n\n11.9%\n\n\n\n0.5%\n\n\n\n\n\n___________________ \n\n\n\n1 \n\n\nCertain analyses presented throughout this document are based on the Bank's core activities and therefore exclude certain charges designated as adjusting items. Refer to the Adjusting Items and Non-GAAP Financial Measures sections for further details. \n\n\n\nMONTRÉAL, Sept. 2, 2015 /CNW Telbec/ - Laurentian Bank of Canada reported adjusted net income of $45.3 million or $1.48 diluted per share for the third quarter of 2015, up 7% and 10% respectively, compared with $42.4 million or $1.35 diluted per share for the same period in 2014. Adjusted return on common shareholders' equity was 12.4% for the third quarter of 2015, compared with 11.9% a year ago. On a reported basis, net income totalled $44.2 million or $1.44 diluted per share for the third quarter of 2015, compared with $40.1 million or $1.27 diluted per share for the same period last year. Also on a reported basis, return on common shareholders' equity was 12.1% for the third quarter of 2015, compared with 11.2% for the third quarter of 2014. \n\nFor the nine months ended July 31, 2015, adjusted net income totalled $128.1 million or $4.17 diluted per share, both up 6%, compared with adjusted net income of $121.0 million or $3.92 diluted per share for the nine months ended July 31, 2014. Adjusted return on common shareholders' equity was 12.0% for the nine ...