MONTREAL — Laurentian Bank says its leadership team is conducting a review of the company's strategic options to maximize shareholder value.
In a press release Tuesday, the bank says it does not intend to disclose further developments until the review is concluded.
Laurentian says it has a strong capital and liquidity position as well as a strong, stable and diversified funding and deposit base.
It says management remains committed to executing the bank's strategy and priorities for the fiscal year.
The Montreal-based bank saw its profit dip in the second quarter ended April 30, while revenue ticked slightly lower and provisions for credit losses rose.
Laurentian Bank has been working through a three-year strategic plan it launched in late 2021 to modernize operations, including with the rollout of its first mobile banking app, as it looks to catch up to the offerings of other Canadian banks.
This report by The Canadian Press was first published July 11, 2023.
Companies in this story: (TSX:LB)
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