The Bank's 2025 Annual Report (which includes the Audited Consolidated Financial Statements and accompanying Management's Discussion & Analysis) will be available today on the Bank's website at www.laurentianbank.ca and on SEDAR+ at www.sedarplus.ca.
MONTREAL, Dec. 5, 2025 /CNW/ - Laurentian Bank of Canada reported net income of $139.9 million and diluted earnings per share of $2.84 for the year ended October 31, 2025, compared with a net loss of $5.5 million and a diluted loss per share of $0.41 for the year ended October 31, 2024. Return on common shareholders' equity(1) was 4.9% for the year ended October 31, 2025, compared with negative 0.7% for the year ended October 31, 2024. Adjusted net income(2) was $147.2 million and adjusted diluted earnings per share(1) were $3.00 for the year ended October 31, 2025, compared with $168.7 million and $3.57 respectively for the year ended October 31, 2024. Adjusted return on common shareholders' equity(1) was 5.2% for the year ended October 31, 2025, compared with 6.1% for the same period one year ago.
For the fourth quarter of 2025, reported net income was $31.5 million and diluted earnings per share were $0.66, compared with net income of $40.7 million and diluted earnings per share of $0.88 for the fourth quarter of 2024. Return on common shareholders' equity was 4.6% for the fourth quarter of 2025, compared with 6.2% for the fourth quarter of 2024. Adjusted net income was $34.2 million and adjusted diluted earnings per share were $0.73 for the fourth quarter of 2025, compared with $40.9 million and $0.89 for the fourth quarter of 2024. Adjusted return on common shareholders' equity was 5.0% for the fourth quarter of 2025, compared with 6.2% for the same period one year ago.
"As announced earlier this week, we are significantly accelerating our transition to a specialty commercial bank," said Éric Provost, President and Chief Executive Officer of Laurentian Bank. "Our growth engines—Commercial Real Estate, Equipment and Inventory Financing—continue to deliver solid results, achieving double-digit year-over-year growth. This performance reflects the effectiveness of our strategy and the trust our clients place in us. In addition, our strong capital and liquidity positions provide both resilience and the flexibility to reinvest for future opportunities."
For the three months ended
For the year ended
In millions of dollars, except per share and percentage amounts (Unaudited)
October 31,2025
October 31,2024
Variance
October 31,2025
October 31,2024
Variance
Reported basis
Net income (loss)
$ 31.5
$ 40.7
(23) %
$ 139.9
$ (5.5)
n.m.
Diluted earnings (loss) per share
$ 0.66
$ 0.88
(25) %
$ 2.84
$ (0.41)
n.m.
Return on common shareholders' equity(1)
4.6 %
6.2 %
4.9 %
(0.7) %
Efficiency ratio(3)
77.2 %
77.5 %
76.3 %
96.1 %
Common Equity Tier 1 (CET1) capital ratio(4)
11.3 %
10.9 %
11.3 %
10.9 %
Adjusted basis
Adjusted net income(2)
$ 34.2
$ 40.9
(16) %
$ 147.2
$ 168.7
(13) %
Adjusted diluted earnings per share(1)
$ 0.73
$ 0.89
(18) %
$ 3.00
$ 3.57
(16) %
Adjusted return on common shareholders' equity(1)
5.0 %
6.2 %
5.2 %
6.1 %
Adjusted efficiency ratio(1)
75.6 %
75.0 %
75.2 %
73.8 %
(1)
This is a non-GAAP ratio. For additional information, refer to the Non-GAAP Financial and Other Measures below and beginning on page 20 of the 2025 Annual Report, including the Management's Discussion & Analysis (MD&A) for the year ended October 31, 2025. These pages are incorporated herein by reference. The MD&A is available on SEDAR+ at www.sedarplus.ca.
(2)
This is a non-GAAP financial measure. For additional information, refer to the Non-GAAP Financial and Other Measures section below and beginning on page 20 of the 2025 Annual Report, including the MD&A for the year ended October 31, 2025. These pages are incorporated herein by reference.
(3)
This is a supplementary financial measure. For additional information, refer to the Non-GAAP Financial below and beginning on page 20 of the 2025 Annual Report, including the MD&A for the year ended October 31, 2025. These pages are incorporated herein by reference.
(4)
In accordance with the Office of the Superintendent of Financial Institutions' (OSFI) "Capital Adequacy Requirements" guideline.
Highlights
For the three months ended
For the year ended
In thousands of dollars, except when noted (Unaudited)
October 312025
July 312025
Variance
October 312024
Variance
October 312025
October 312024
Variance
Operating results
Total revenue
$ 244,710
$ 246,809
(1) %
$ 250,771
(2) %
$ 983,672
$ 1,018,209
(3) %
Net income (loss)
$ 31,481
$ 37,463
(16) %
$ 40,661
(23) %
$ 139,874
$ (5,499)
n.m.
Adjusted net income(1)
$ 34,232
$ 39,604
(14) %
$ 40,945
(16) %
$ 147,246
$ 168,662
(13) %
Operating performance
Diluted earnings (loss) per share(2)
$ 0.66
$ 0.73
(10) %
$ 0.88
(25) %
$ 2.84
$ (0.41)
n.m.
Adjusted diluted earnings per share(2)(3)
$ 0.73
$ 0.78
(6) %
$ 0.89
(18) %
$ 3.00
$ 3.57
(16) %
Return on common shareholders' equity(3)
4.6 %
5.0 %
6.2 %
4.9 %
(0.7) %
Adjusted return on common shareholders' equity(3)
5.0 %
5.4 %
6.2 %
5.2 %
6.1 %
Net interest margin(4)
1.79 %
1.82 %
1.77 %
1.83 %
1.79 %
Efficiency ratio(4)
77.2 %
76.9 %
77.5 %
76.3 %
96.1 %
Adjusted efficiency ratio(3)
75.6 %
75.7 %
75.0 %
75.2 %
73.8 %
Operating leverage(4)
(0.4) %
(1.1) %
0.7 %
20.0 %
(30.6) %
Adjusted operating leverage(3)
0.1 %
(0.7) %
(2.1) %
(1.9) %
(5.4) %
Financial position ($ millions)
Loans
$ 36,014
$ 35,779
1 %
$ 35,259
2 %
$ 36,014
$ 35,259
2 %
Total assets
$ 50,148
$ 49,931
— %
$ 47,401
6 %
$ 50,148
$ 47,401
6 %
Deposits
$ 23,999
$ 24,325
(1) %
$ 23,164
4 %
$ 23,999
$ 23,164
4 %
Common shareholders' equity(1)
$ 2,571
$ 2,557
1 %
$ 2,524
2 %
$ 2,571
$ 2,524
2 %
Basel III regulatory capital ratios
CET1 capital ratio(5)
11.3 %
11.3 %
10.9 %
11.3 %
10.9 %
Total risk-weighted assets ($ millions)(5)
$ 20,700
$ 20,451
$ 20,862
$ 20,692
$ 20,862
Credit quality
Gross impaired loans as a % of loans(4)
1.18 %
1.17 %
1.07 %
1.18 %
1.07 %
Net impaired loans as a % of loans(4)
0.97 %
0.98 %
0.88 %
0.97 %
0.88 %
Provision for credit losses as a % of average loans(4)
0.20 %
0.12 %
0.12 %
0.17 %
0.17 %
Common share information
Closing share price(6)
$ 33.30
$ 30.81
8 %
$ 26.08
28 %
$ 33.30
$ 26.08
28 %
Price / earnings ratio(4)
11.7 x
10.1 x
(63.6) x
11.7 x
(63.6) x
Book value per share(3)
$ 57.67
$ 57.70
— %
$ 57.36
1 %
$ 57.67
$ 57.36
1 %
Dividends declared per share
$ 0.47
$ 0.47
— %
$ 0.47
— %
$ 1.88
$ 1.88
— %
Dividend yield(4)
5.6 %
6.1 %
7.2 %
5.6 %
7.2 %
Dividend payout ratio(4)
70.9 %
64.5 %
53.3 %
66.3 %
n.m.
Adjusted dividend payout ratio(3)
64.8 %
60.5 %
52.9 %
62.6 %
52.7 %
(1)
This is a non-GAAP financial measure. For additional information, refer to the Non-GAAP Financial and Other Measures section below and beginning on page 20 of the 2025 Annual Report, including the MD&A for the year ended October 31, 2025.These pages are incorporated herein by reference.
(2)
The sum of the quarterly earnings per share may not be equal to the cumulative earnings per share due to rounding.
(3)
This is a non-GAAP ratio. For additional information, refer to the Non-GAAP Financial and Other Measures section below and beginning on page 20 of the 2025 Annual Report, including the MD&A for the year ended October 31, 2025. These pages are incorporated herein by reference.
(4)
This is a supplementary financial measure. For additional information, refer to the Non-GAAP Financial and Other Measures section below and beginning on page 20 of the 2025 Annual Report, including the MD&A for the year ended October 31, 2025. These pages are incorporated herein by reference.
(5)
In accordance with OSFI's "Capital Adequacy Requirements" guideline. Refer to the Capital Management section beginning on page 36 of the 2025 Annual Report for additional information.
(6)
Toronto Stock Exchange (TSX) closing market price.
Non-GAAP Financial and Other Measures
In addition to financial measures prepared based on generally accepted accounting principles (GAAP), management utilizes non-GAAP financial measures to evaluate the Bank's underlying and ongoing business performance. These non-GAAP financial measures, referred to throughout this document as adjusted measures, exclude items identified as adjusting items. Adjusting items consist of certain items of significance that arise from time to time which management believes are not indicative of underlying business performance, as well as the amortization of acquisition-related intangible assets.
Non-GAAP financial measures are not standardized financial measures under the financial reporting framework used to prepare the Bank's financial statements and may not be comparable to similar measures disclosed by other issuers. The Bank believes these non-GAAP financial measures are useful to readers in obtaining a better understanding of how management assesses the Bank's performance and in analyzing trends.
The following tables present a reconciliation of the non-GAAP financial measures to their most directly comparable financial measure that is disclosed in the primary financial statements of the Bank.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES, CONSOLIDATED STATEMENT OF INCOME
For the three months ended
For the year ended
In thousands of dollars (Unaudited)
October 312025
July 312025
October 312024
October 312025
October 312024
Total revenue
$ 244,710
$ 246,809
$ 250,771
$ 983,672
