Home Breadcrumb caret Industry News Breadcrumb caret Industry Laurentian beats Q3 profit expectations The bank reported third-quarter profit of $36.2 million By The Canadian Press | September 4, 2020 | Last updated on September 4, 2020 1 min read Laurentian Bank Financial Group beat expectations as it reported a third-quarter profit of $36.2 million. The Montreal-based bank says the profit amounted to 77 cents per diluted share for the quarter ended July 31 compared with a profit of $47.8 million or $1.05 per share a year earlier. Revenue totalled $248.6 million, up from $244.7 million for the third quarter of 2019. Total provisions for credit losses amounted to $22.3 million, compared with $12.1 million a year ago, but down from $54.9 million for the second quarter of 2020. On an adjusted basis, Laurentian says it earned $1.02 per diluted share for the quarter, down from $1.15 a year ago. Analysts on average had expected a profit of 45 cents per share for the quarter, according to financial markets data firm Refinitiv. The Canadian Press The Canadian Press is a national news agency headquartered in Toronto and founded in 1917. Save Stroke 1 Print Group 8 Share LI logo