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Crime and Punishment

This article talks about the National Bank, the 6th largest bank in Canada, and Laurentian Bank, 7th largest bank in Canada, and their increased profits 1st quarter.National Bank reported a 3 percent increase in quarterly profits, while Laurentian Bank reported a 10 percent increase.National Bank said net income before goodwill charges for thefirst quarter was $146 million, or 73 cents a share.Which went up from $142 million or 71 cents a share in the same period last year; its profit growth occurred mainly because of its corporate lending, treasury and institutional brokerage activities.National Bank also said, revenues were up $43 million to $805 million.At Laurentian Bank, their net income before goodwill charges for thefirst quarter was $24.9 million, or 90 cents a share.Which went up from $22.6 million or 84 cents a share.Laurentian reported that their revenue rose slightly from $160.3 million to $161.3 million.I myself find it amazing that these two banks which have not done as well as they did this quarter; in the past they did not do well as larger banks such as CIBC, and RBC. What was amazing was they were not hit by high profile credit woes in the U.S. and the crisis in Argentina.These two banks have the potential for doing well, and I believe they will eventually become better, larger, and more popular institutions.Since all financial institutions in this country offer the same exact services and very close rates, choosing the right bank all depends on how each bank represents themselves and what they do to get customers.The more they open branches the more convenient they become to customers and the more potential customers will be attracted….

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