MONTREAL, March 04, 2020 (GLOBE NEWSWIRE) -- Laurentian Bank Financial Group released its 2019 Social Responsibility Report today which complements its Annual Report to shareholders. This report highlights the Group's environmental, social and governance (ESG) achievements and commitments to its stakeholders.

To read the full report, visit https://lbcfg.ca/governance-and-social-responsibility. Key highlights include:

Becoming a better and different bank for our customers

• We converted our branches in Quebec into a Financial Clinics network, where our customers receive advice from our financial professionals.
• We launched digital banking products under our B2B Bank and LBC Digital brands; now customers can open simple banking accounts – chequing and high-interest savings accounts – and purchase GICs online when it’s convenient for them.

Developing a culture of performance

• Women continue to play a large role within the organization; 55% of our total workforce and 45% of our leaders are women.
• We highly value learning and development and provide opportunities for team members to grow. Keeping our team members up to date on governance practices is a priority. In 2019, they received more than 15,000 hours of training on themes related to cybersecurity, privacy and compliance.
• We have established a renewed labour relations environment

Doing our part to help the environment

• Choosing eco-conscious procurement – and expanding our partnership in 2019 with Bullfrog Power for our corporate office locations in both Toronto and Montreal – we have displaced 1,083 tonnes of CO₂ since joining the bullfrogpowered community. This is equivalent to taking 229 cars off the road for a year.
• We made progress on our initiative to advance the development of a roadmap to incorporate the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
• We participated in the issuance of $2.25 billion of green bonds in 2019.

Having the privilege of giving back to our communities

• In 2019, more than half a million dollars was given in corporate donations and sponsorships as well as from our generous team members.
• We donated 974 works of art to Canadian museums and foundations to enrich their collections and improve accessibility to the public.             

About Laurentian Bank Financial Group

Founded in 1846, Laurentian Bank Financial Group is a diversified financial services provider whose mission is to help its customers improve their financial health. The Laurentian Bank of Canada and its entities are collectively referred to as Laurentian Bank Financial Group (the “Group” or the “Bank”).

With more than 3,200 employees guided by the values of proximity, simplicity and honesty, the Group provides a broad range of advice-based solutions and services to its personal, business and institutional customers. With pan-Canadian activities and a presence in the U.S., the Group is an important player in numerous market segments.

The Group has $44 billion in balance sheet assets and $29 billion in assets under administration.

Information:

Hélène Soulard
Assistant Vice President, Communications
514-284-4500, extension 40015
helene.soulard@lbcfg.ca