Laurentian Bank of Canada reported net earnings of $49.3 million and diluted earnings per share of $1.11 for the second quarter of 2023, compared to net earnings of $59.5 million and diluted earnings per share of $1.11 $.34 for the second quarter of 2022.

Adjusted net income was $51.7 million and adjusted diluted earnings per share was $1.16 for the second quarter of 2023. At the same date last year, adjusted net income was $61.6 million and adjusted diluted earnings per share of $1.39 was reported.

The Montreal-based institution reports that in the second quarter of this year, adjusted return on common shareholders’ equity was 8.1% compared to 10.3% for the corresponding period a year ago.

Laurentian Bank President and CEO, Rania Llewellyn, reports that the quarter ended with, in her view, a very good liquidity position and very good levels of capital.

Alongside the announcement of its results, Laurentian Bank announces that its Board of Directors has approved an increase of $0.01 per common share and declared a regular quarterly dividend of $0.47 per share on common shares payable on August 1 next.