Our history.
For over 175 years, Laurentian Bank has been helping families, businesses and communities thrive. By seeing beyond numbers, we aspire to bring hopes and dreams to life for many more years to come.
Laurentian Bank: our milestones through the years.
2024
Laurentian Bank hosted an Investor Day and unveiled its Strategic Plan: Our Path Forward. The plan defines the Bank’s approach in the financial services sector and outlines what sets it apart from its competition, including its specialized approach to Commercial Banking and a simple, digitally-led everyday banking experience.
LBC Capital and Northpoint Commercial Finance (Northpoint) subsidiaries united under one brand, Northpoint Commercial Finance. The merging of these two brands is a natural and anticipated evolution of this business, allowing for streamlined efficiencies and offerings for its Equipment and Inventory Financing customers throughout North America.
2021
A very special year that sees Laurentian Bank celebrate our 175th anniversary, which is an opportunity to reflect on our remarkable past and to build upon our roots for sustained future growth. The Bank will be commemorating this achievement throughout the year with a few activities and celebrations for its employees, customers and communities.
2020
In response to the unprecedented global COVID-19 pandemic, Laurentian Bank was proud to introduce special measures aimed at helping Personal and Commercial Banking customers facing financial hardships. The Bank also took several precautions to protect the health and well-being of our team members during this difficult time.
2019
The Bank inaugurated its new advisory model for Retail services in response to the evolving needs of its diversified customers. Personal and Commercial Banking customers can now benefit from personalized advice services offered by a multidisciplinary team of experienced advisors, financial planners, private bankers and commercial account managers – all under one roof.
2018
Laurentian Bank partnered with THE EXCHANGE® Network to increase access for customers to bank at more than 3,000 ATMs from coast to coast from over 170 participating financial institutions. This move gives customers more points of service to carry out most of their day-to-day transactions with no additional ATM surcharge fees.
2017
LBC Capital acquires Northpoint Commercial Finance, one of the leading US and Canadian inventory finance lenders. This results in an attractive end-to-end equipment finance platform, which broadens our Canadian offering and creates a US presence. This Canadian-American attribute is important for manufacturers and dealers looking for a single North American point of service.
Creates a new technology subsidiary, LBC Tech, bringing together all IT teams under one entity.
2016
Acquires the Canadian equipment financing and corporate financing activities of CIT Group Inc. This transaction gives a more complete line of products and services, a larger pool of customers and an enhanced sales force deployment.
Regroups all its equipment financing activities into a new national subsidiary called LBC Capital.
2015
Posts record results for a 9th consecutive year, with all its principal activity sectors generating solid growth and achieving its profitability objectives.
B2B Bank sees the volume of its mortgage and business loan portfolios increase by 34% and 18% respectively.
Launches its 7-year transformation plan with clear objectives to accomplish by 2022:
Achieve a return on equity that’s comparable to the Canadian banking industry;
Double the size of our organization;
and build a solid strategic foundation.
2009 to 2014: Strengthening leadership positions.
2014
Posts record results for an 8th consecutive year, with activities done outside Quebec accounting for 50% of the organization’s profitability.
Completes the integration of MRS Companies and AGF Trust, doubling the size of B2B Bank and reinforcing its leadership position within its market.
Launches 2 new and very promising product lines during the year:
Equipment financing products intended primarily for small and medium-sized enterprises; and
Alternative mortgage solutions offered to mortgage brokers by B2B Bank.
2013
Posts record results for a 7th consecutive year and surpasses the $150 million mark in adjusted net income for the first time in its history.
Pursues the integration of MRS Companies and AGF Trust, and introduces new financing solutions for businesses.
Dividend on common shares reaches $1.98, up by 52% over five years.
2012
B2B Trust becomes federally chartered B2B Bank to better reflect the nature of its loan and deposit activities.
Proceeds with the acquisition of AGF Trust, which consolidates B2B Bank’s positioning as leading provider of products and services to independent financial advisors across Canada.
To reinforce its capitalization, Laurentian Bank goes ahead with capital issues totaling $482 million, and its total assets surpass the $35 billion mark.
2011
Proceeds with the acquisition of MRS Companies through its B2B Trust subsidiary and concludes a Mackenzie mutual fund distribution agreement for the Retail and SME Financial Services sector.
Posts notable growth over the last 5 years, with its balance sheet assets up by 40%, its total revenue by 42%, and net income by 81%.
Among the Quebec and Atlantic region winners of the 2011 Most Admired Corporate Cultures competition.
2010
Posts record net income for the 4th consecutive year, totaling $122.9 million, while its earnings per share rise for the 6th year in a row.
Opens its second-generation financial services boutique in Quebec City and LaSalle.
Launches the Laurentian Bank Career Station, a unique and innovative talent recruitment centre permanently located at the Berri-UQÀM subway station.
Named the 2nd most admired banking institution among Quebecers for a 3rd consecutive year.
2009
Posts record growth for a 3rd consecutive year, with loans and deposits of close to $5 billion and record net income of $113 million.
Gets an exclusive contract for the operation of ATMs in the Montreal subway system. Today, the organization operates a total of 72 machines throughout the Société de transport de Montréal network.
Inducted into the Quebec Business Hall of Fame by the Quebec Federation of Chambers of Commerce, in recognition of Laurentian’s contribution to the province’s development.
2002 to 2008: Transformation and strategic positioning.
2003
Management announces its intention to concentrate activities within markets where Laurentian excels and holds a strong position:
Direct retail financial services in Quebec; and
Other services throughout Canada.
Puts 57 branches in Ontario and Western Canada up for sale.
2002
B2B Trust wins the Quebec Finance Grand Prix Award as Financial Institution of the Year.
1990 to 2001: Accelerated growth and major changes in direction.
2000
Acquires all Sun Life Trust Company stock in a transaction that results in the creation of the new B2B Trust subsidiary.
Acquires the brokerage firm Tassé & Associates Limited through the LBS subsidiary.
Integrates 43 branches in Quebec acquired from Scotiabank.
1997
After the withdrawal of the principal shareholder, Desjardins-Laurentian Financial Corporation, Laurentian becomes a Schedule 1 institution. This new status allows for easier and freer financing of the institution’s activities through capital stock issues.
1996
Celebrates 150th anniversary with assets more than $12.5 billion and close to 3,400 employees.
Launches LBCDirect, its telebanking services.
Acquires the parent corporation of Trust Prêt et Revenu du Canada.
1995
Acquires 30 branches of North American Trust in Ontario and Western Canada.
Between 1987 and 1995, Laurentian Bank’s average annual asset growth is 15.8%.
1994
After the merger of Laurentian Group and Mouvement Desjardins, the Desjardins-Laurentian Financial Corporation becomes the new majority shareholder of Laurentian Bank of Canada.
Acquires a number of assets of Prenor Trust of Canada and Manulife Bank of Canada’s 12 branches.
1993
Acquires General Trust Corporation and purchases most of the Société Nationale de Fiducie’s assets from the brokerage firm BLC Rousseau, creating Laurentian Bank Securities (LBS).
1992
Acquires La Financière Coopérants Prêts-Épargne Inc. and Guardian Trust Company.
1980s: Expansion outside Quebec and the emergence of high tech.
1988
Moves its Head Office to 1981 McGill College Avenue.
After merging with Eaton Trust, the Bank establishes its presence in Toronto, Edmonton, Calgary and Vancouver.
Network includes 128 branches, mostly in Quebec, and more than 2,000 employees.
1987
The Montreal City and District Savings Bank changes its name to Laurentian Bank of Canada. Laurentian Group Corporation becomes the majority shareholder.
1984
Installs its first Oscar automated banking machine, allowing for a greater range of transactions.
The consolidated assets of the organization and its subsidiaries reach close to $5 billion.
1983
Lists its shares on the Toronto Stock Exchange.
1980
Changes in federal banking legislation let the Savings Bank enter the commercial loan market and grant loans to companies of up to $100,000.
1947 to 1979: From post-war to modernization.
1976
Assets reach $1 billion.
1975
Opens its first branch outside the Montreal region in Granby.
1974
Installs its Bancaide system, the first generation of automated banking machines.
1972
All branches adopt an online system to process savings account transactions, personal loan files and term deposits.
Becomes the first financial institution in Canada to link all its branches to a central computer.
Inaugurates the Drive-Through banking service, letting clients make bank transactions from their car.
1968
A revision of the Bank Act and the Savings and Credit Unions Act provided the banks the right to determine the interest rate paid and charged, solely regulated by the market.
Installs a computer system.
1965
Lists its shares on the Montreal Stock Exchange.
1958
The Savings Bank replaces its old manual accounting system with new punch card equipment.
1954
The Quebec Savings Bank Act is sanctioned, letting the institution open branches throughout the southern province of Quebec.
1948
Due to legislative changes adopted by the government, the bank receives the power to grant personal loans and mortgages.
1896 to 1946: Evolving with prudence.
1946
Celebrating its centennial, the Bank posts assets of $124 million and profits of $455,000 ($2.27 per share).
Serves 341,000 clients through its 24 branches.
1939
Becomes the first institution of its kind to hold a trust company with the creation of the Montreal City and District Trustees (later to be known as Laurentian Trust).
Has 300 employees and operates 25 points of service.
1921
Celebrates its 75th anniversary.
Assets totaled $49 million.
1911
Launches an extensive school savings program in collaboration with the Montreal Catholic School Commission.
1896
Celebrates its 50th anniversary with approximately 50,000 depositors and $9.3 million in assets.
1846 to 1895: Laying the foundation of a tradition of excellence.
1871
25 years after its creation, the Bank serves 11,000 clients and holds $3 million in deposits.
Becomes a share capital limited company and is awarded a federal charter.
Moves to 262 rue Saint-Jacques in Montreal, which remains its Head Office for more than a century.
1860
The Bank’s accounts grow from 1,301 to 3,072 between 1850 and 1860, with deposits totaling $746,043.
1846
On May 26, 1846, the Montreal City and District Savings Bank, which would eventually become Laurentian Bank of Canada, is 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 serves 500 clients with $117,400 in assets.