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VersaBank Achieves Record Loan Assets with considerably Increased Origination Activity up to now into the First Quarter of 2021

VersaBank Achieves Record Loan Assets with considerably Increased Origination Activity up to now into the First Quarter of 2021

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Jan 13, 2021, 07:50 ET

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LONDON, ON , Jan. 13, 2021 /CNW/ – VersaBank (“VersaBank” or even the “Bank”) (TSX: VB) today announced that its loan profile has surpassed $1.7 billion , a new record for the lender. The growth that is recent the mortgage profile will be driven by somewhat increased origination task both in regarding the Bank’s current main financing stations, Point-of-Sale Financing and Commercial Banking with loans mainly to domestic multi-unit dwelling builders.

“VersaBank is experiencing our many fast loan profile development in our history in current months even as we redeploy our atypically high money balances in 2020 after our cautionary stance at the start of the pandemic,” stated David Taylor , President and leader Officer. “As an end result, building on years of strong, steady development in our financing profile, we now have accomplished a fresh record, once the resumption of big-ticket customer investing and renewed domestic construction task, coupled with a strengthened competitive position on the basis of the superior monetary wellness of our Bank through 2020, has driven strong loan origination both in our Point-of-Sale Financing and Commercial Banking lending portfolios.”