MONTREAL – Laurentian Bank of Canada (TSX: LB) announced a historic milestone – its 175-year anniversary today. The Bank says it is proud to have been a part of the fabric of our country for 175 years and will be celebrating this great achievement with employees, customers, and its communities throughout the year.
On May 26, 1846, the Montreal City and District Savings Bank was founded by Monsignor Ignace Bourget, second Bishop of Montreal, and by a group of 15 prominent Montrealers from many linguistic and denominational communities. After its first year of operation, the Bank had $117,400 in assets. The Montreal City and District Savings Bank became the Laurentian Bank of Canada in 1987, and today has $45.2 billion in balance sheet assets and $29.2 billion in assets under administration.
“Our Bank’s 175th anniversary is an incredible milestone. This is an opportunity to reflect on our remarkable past and to celebrate the strength of our roots. I want to thank our customers, our shareholders and investors, as well as our employees, and the communities where we operate for having been part of our story. We are excited to write the next chapter of the Bank together, building upon our roots for sustained future growth.” – Rania Llewellyn, president and chief executive officer, Laurentian Bank of Canada
Members of the Bank’s Board of Directors and Executive Committee will close the market of the Toronto Stock Exchange (TSX) today, at 4:00 p.m. ET.
Founded in 1846, Laurentian Bank Financial Group is a diversified financial services provider whose mission is to help its customers improve their financial health. The Laurentian Bank of Canada and its entities are collectively referred to as Laurentian Bank Financial Group.
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