VersaBank rises after Q4 profit jump

VersaBank

13/12/2023 18:04

** Shares of Canadian chartered bank VersaBank  VBNK.TO  
rise 9.7% to C$11.93
    ** Co posts Q4 net income of C$0.47/shr vs C$0.23/shr last
year 
    ** Higher net interest income, strong loan growth and
recovery of credit losses boosted net income - VBNK
    ** Q4 net interest income surged 16.74% to C$26.2 mln
($19.30 mln)
    ** Q4 loans jumped 29% to record C$3.85 bln driven by growth
in point-of-sale (POS) financing portfolio
    ** Up to last close, stock up 7.6% YTD

($1 = 1.3577 Canadian dollars)

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com))