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Laurentian Bank a buy and hold?
May 17, 2023
1:31 pm
Andrew Bernard
Newbie
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May 17, 2023
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Laurentian bank formerly LBC Digital/B2B bank has started new HISA, Credit card and Chequing accounts across Canada, opening it's doors to the rest of the world outside of Quebec. Seems like a strategy to become a National level bank although reading about their history I am not surprised they are so late. I recently signed up for their HISA account as they seem to have one of the best base rates for HISA (3%) and the signup process was genuinely way better than their old glitchy websites.
Here's the new link: https://www.laurentianbank.ca/en/personal/accounts/high-interest-savings?utm_source=exp

I want to invest a good chunk into Canadian bank stocks and I have been following Laurentian, HSBC, EQ, NBC for quite some time now (don't want to invest my money in Big 5 so only focused on smaller banks) and although EQ, NBC and HSBC are way ahead in the game, recently I am seeing tremendous improvements in Laurentian's digital infrastructure( Their website, products, mobile app, advertisements) so wondering if this bank could be a better buy for higher long term profits than EQ, NBC or HSBC.

May 17, 2023
1:46 pm
AltaRed
BC Interior
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To my knowledge, Laurentian Bank has never been 'formerly' LBC Digital/B2B. My understanding is Laurentian Bank is the mother bank of those offerings.

I suspect you should go to a stock forum for opinions on LB as a bank stock relative to its peers. It does not get much mention/traction on financial discussion forums such as CMF and FWF.

Also, HSBC Canada is being bought out by RBC so not sure why you would be looking at HSBC. You might, however, include CWB in that LB, EQB grouping.

Personally, I think LB is a long term loser likely to remain a long term loser relative to where EQB is going. While I don't know much about LB's digital infrastructure, I can tell you their LBC Digital offering (website) is about the worst I have ever seen. The only reason I really keep LBC going is for push-pull purposes between big bank accounts.

Good luck.

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