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Laurentian Bank’s main branch in downtown Montreal.
Laurentian Bank’s main branch in downtown Montreal.
(John Morstad/The Globe and Mail)

AGF Trust acquisition a saving grace for Laurentian Bank

You’ve got to give it up to Laurentian Bank’s management for pouncing on AGF Trust last summer. Without that acquisition, investors wouldn’t have much reason to be hopeful.

Consider this: Laurentian’s net interest margin, or the difference between the rate it borrows money at and the rate it charges to loan that money out, fell 5 basis points this quarter to 1.68 per cent.