Laurentian Bank of Canada
The Laurentian Bank of Canada (LBC; French: Banque Laurentienne du Canada) is a Schedule 1 bank that operates primarily in the province of Quebec, with commercial and business banking offices located in Ontario, Alberta, British Columbia, and Nova Scotia. LBC's Institution Number (or routing number) is 039.
| Formerly | Montreal City and District Savings Bank |
|---|---|
| Company type | Public |
Traded as | TSX: LB |
| Industry | Banking |
| Founded | 1846 |
| Founder | Ignace Bourget |
| Headquarters | Montreal, Quebec, Canada |
Area served | Canada |
Key people | Éric Provost (President & CEO) |
| Products |
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| Services |
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| Revenue | Can$1.03 billion (2023) |
Net income | Can$181 million (2023) |
| AUM | Can$3.02 billion (2023) |
| Total assets | Can$49.89 billion (2023) |
| Total equity | Can$2.86 billion (2023) |
Number of employees | 3,000 (FTE, 2023) |
| Divisions |
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| Website | laurentianbank.ca |
The institution was established as the Montreal City and District Savings Bank in 1846. Shares for the bank were publicly listed on the Montreal Stock Exchange in 1965 and the Toronto Stock Exchange in 1983. In 1987, the institution was renamed the Laurentian Bank of Canada.
It is the only bank in North America to have had a labour union, some 1,100 positions becoming unionized in 1967, with the rest of non-managerial positions joining decades later. In 2017, there was a failed attempt by the bank to decertify the Canadian Office and Professional Employees Union, but a majority of workers voted for union de-certification in March 2021, leading the Canada Industrial Relations Board to revoke the union's certification in April 2021.