Versabank (TSE:VBNK) has released an update.
VersaBank has announced an impressive 18% year-over-year growth in their loan portfolio for the second quarter of fiscal 2024, coupled with a solid earnings per share (EPS) increase. Despite a slight decline in net income and net interest margin compared to the previous quarter, the bank has maintained a robust common equity tier 1 (CET1) capital ratio, signaling strong capital adequacy and financial health. This performance reflects the bank’s position as a leading North American entity in business-to-business digital banking and cybersecurity solutions.
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