...July 12, 2023 TORONTO (S&P Global Ratings) July 12, 2023--S&P Global Ratings today said that Laurentian Bank of Canada's (LBC; ###/Stable/A-2) announcement of a strategic review is a reflection of the difficult operating environment smaller Canadian lenders are facing. The announcement comes amid LBC's ongoing efforts to revive its retail franchise, including through investments in productivity-boosting technologies, as well as enhancements to digital capabilities. We will assess the outcome of the strategic review once it is complete. For example, we would assess a sale to a larger banking group based on the credit profile of the acquirer. We would assess the outcome of no sale, or a sale of a single business line, based on the details of the announcement and any implications for creditors. Like smaller Canadian peers, LBC has been stressed by the uncertainties in the macroeconomic environment, as well as continued competitive pressures, which we incorporate into our relatively weaker...
