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Laurentian Bank reports first-quarter profit up from year ago, beats expectations


 
MONTREAL
Laurentian Bank Financial Group s chief executive says the company will double down on its residential mortgage business as part of a deep review of the bank s business.
We are on track to deliver our new strategic plan, including Laurentian Bank value proposition and vision for the future, by the end of the year, said Rania Llewellyn, who took over as chief executive at the end of October.
In the near term, one opportunity that has surfaced as a high priority for the organization is our residential mortgage business. While the industry has been experiencing growth over the past 12 months, we have not benefited from it. ....

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Market movers: Stocks seeing action on Wednesday - and why


Market movers: Stocks that saw action on Wednesday - and why
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A roundup of some of the North American equities making moves in both directions today
On the rise
Laurentian Bank Financial Group (LB-T) soared after beating expectations as it reported a first-quarter profit rose compared with a year ago even as its provision for credit losses edged higher.
The Montreal-based bank says it earned $44.8-million or 96 cents per diluted share for the quarter ended Jan. 31, up from a profit of $32.2-million or 68 cents per diluted share a year ago. ....

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