Laurentian Bank of Canada reported a 6 percent fall in third-quarter profit on Friday as its expenses rose and it set aside more money to cover bad loans.
The Montreal-based bank's net income fell to C$28.3 million, or 91 Canadian cents per share, in the quarter ended July 31, from C$30 million, or C$1.06 per share, a year earlier.
Provision for loan losses rose 20 percent to C$9 million. Non-interest expenses rose 17.4 percent in the quarter.
© 2021 Thomson/Reuters. All rights reserved.