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Annually, the Bank conducts a goodwill impairment test.Unless otherwise indicated, all amounts noted below are on a pre-tax basis and may not add due to rounding. The expected charges are divided into four categories: Personal Banking Segment Impairment, Future of Work, Technology and Credit Provisions.
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The expected charges would also impact the Bank's Common Equity Tier 1 capital ratio 3 by approximately 25 basis points which is expected to remain above 10%. Reported diluted earnings per share are expected to be impacted by approximately $3.73 and adjusted diluted earnings per share 2 by $0.33. The Bank also announced that it will hold a virtual Investor Day on December 10, 2021, to unveil its new strategic plan, under the leadership of its new President & CEO and management team.Īs a result of its strategic review, the Bank expects to record certain charges to its fiscal 2021 fourth quarter earnings, estimated to reduce reported earnings by $209 million pre-tax, or $163 million after tax, and adjusted earnings 1 by $19 million pre-tax, or $14 million after tax. 23, 2021 (GLOBE NEWSWIRE) - Laurentian Bank of Canada (TSX: LB) (the “Bank”) today announced that it expects to record certain charges in its fourth quarter and fiscal 2021 results in relation to its strategic review.