Canada's VersaBank dips as Q2 net interest income misses estimates
05/06/2024 18:27
** Shares of Canadian lender VersaBank VBNK.TO fall as
much as 2.7%; last down 1.8% at C$13.06
** VBNK posts Q2 net interest income (NII) of C$26.2 mln
($19.1 mln) below analysts' average expectation of C$26.8 mln -
LSEG
** Raymond James analysts say higher deposit costs and
shifts within bank's commercial real estate book have weighed on
NII, as expected
** Soft consumer spending could delay reaching next total
asset milestone of C$5 bln - VBNK CEO David Taylor
** Profit for quarter ended April 30 is 45 Canadian
cents/shr, in line with analysts' expectation
** As of last close, VBNK shares were down 8.5% YTD
($1 = 1.3698 Canadian dollars)
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))