May 31 (Reuters) - Laurentian Bank of Canada (LB.TO), opens new tab said on Friday it had recorded impairment and restructuring charges of C$196.8 million ($144.4 million) in the second quarter.
The charge was related to the restructuring of the bank's operations and the impairment of its personal and commercial banking segment, Laurentian said.
The bank also booked severance charges of C$2.9 million ($2.1 million) in the second quarter in relation to its organizational changes.
Earlier this month, the bank said it had cut 2% jobs across the firm and shut down its equity research unit as part of a planned restructuring of its business.
The bank expects to record additional severance charges of nearly C$7 million in the third quarter of 2024.
Laurentian Bank posted a net loss of C$117.5 million, or C$2.71 per share, in the three months ended April 30, compared with a profit of C$49.3 million, or C$1.11 per share, a year earlier.
($1 = 1.3633 Canadian dollars)
Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Vijay Kishore
