It has generally been a solid year for Canada’s banks in the Top 1000 World Banks ranking, with all but one seeing their pre-tax profits increase in 2021; a clear improvement compared to the year previous, when all but one had decreased profits.
The one outlier, Montreal-based Laurentian Bank of Canada, saw a 35% year-on-year reduction in pre-tax profits. It recorded one-time charges in the fourth quarter of 2021 related to its strategic review, including reducing the office space it leases and amended plans for its core-banking technology system.
