Laurentian Bank profit nearly flat in first quarter

Wed Mar 5, 2014 9:20am EST
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TORONTO, March 5 (Reuters) - Laurentian Bank of Canada said on Wednesday its first-quarter adjusted profit was little changed from a year earlier as it worked to improve efficiency after acquiring some businesses.

Montreal-based Laurentian, Canada's eighth-largest bank by market capitalization, said adjusted net income was C$39.3 million ($35.38 million), or C$1.29 diluted per share, in the fiscal first quarter, versus C$39.1 million, or C$1.30 diluted per share, in the same quarter a year earlier.