Track record of robust asset quality and stable capital ratios Continued geographic revenue diversification primarily through the growth of the B2B Bank business, as well as through Business Services activities Higher business concentration risk relative to the larger Canadian banks Significantly smaller national market share presence compared with the larger Canadian banks Pressure on the funding and liquidity scores due to increased reliance on wholesale funding The outlook is negative, largely reflecting our view of Laurentian Bank of Canada's (LBC's) risks associated with a relatively concentrated position in Canadian residential mortgages, consistent with our concerns around elevated house prices, household debt, and mortgage fraud. The negative outlook also reflects a potential reduction in LBC's projected risk-adjusted capital (RAC) ratio as
