Improved and more sustainable core operating profitability Stable asset quality Good capital adequacy Strong liquidity and funding position Geographic concentration in one province Small market share Lack of product diversification High exposure to higher-risk personal lending The ratings on Montreal-based Laurentian Bank of Canada reflect what Standard&Poor's Ratings Services views as the bank's improved and more sustainable core operating profitability, its stable asset quality, its good capital adequacy, and strong liquidity and funding position. These positive rating factors are somewhat offset in our opinion by Laurentian Bank's geographic concentration in the province of Quebec, its small market share, its lack of product diversification, and its comparatively high exposure to higher-risk personal lending. Much of Laurentian Bank's improved operating
