Laurentian Bank of Canada (TSE:LB) reported a second-quarter loss on a reported basis as transaction-related charges and a loss tied to the sale of a syndicated loan portfolio weighed on results, while management said the bank remains on track with previously announced…
ansactions involving National Bank and Fairstone. President and CEO Éric Provost said Laurentian remains focused on serving customers and managing operations during what he described as an uncertain macroeconomic environment, while also supporting the migration and sale process
He thanked employees for their commitment during the transition. Provost said the bank made “meaningful progress” during the quarter on the transactions announced with National Bank and Fairstone. He said the Competition Act approval condition for both transactions has been satisfied, provided there is no change in circumstances relating to the Competition Bureau.
Operationally, he said the portfolio migration is progressing well and remains on track. “Based on our current trajectory, we continue to expect both transactions to close by the end of 2026,” Provost said during prepared remarks. In response to a question from CIBC analyst Paul Holden, Provost clarified that the expected timing refers to calendar 2026 and said the process is moving according to plan. Reported Results Show Net Loss; Adjusted Earnings Decline Executive Vice President and Chief Financial Officer Yvan Deschamps said reported total revenue for the second quarter of 2026 was CAD 213.7 million, down 12% from a year earlier and 15% sequentially.