Laurentian Bank profit up 71 percent

Wed Dec 5, 2012 9:31am EST
 

(Reuters) - Laurentian Bank of Canada's LB.TO fourth-quarter profit rose 71 percent on loan growth and it raised its quarterly dividend.

Laurentian, Canada's eighth-largest bank by market capitalization, reported profit of C$45.7 million, or C$1.51 per share, compared with C$26.7 million, or 99 Canadian cents per share, a year earlier.

Total revenue rose 15 percent to C$210.4 million

Montreal-based Laurentian increased its quarterly dividend by 2 Canadian cents to 49 Canadian cents per share.

(Reporting by Maneesha Tiwari in Bangalore; Editing by Anil D'Silva)