The Montreal-based bank unveiled a new strategic plan at an investor day Friday, setting a medium-term double-digit target for growth in adjusted diluted earnings per share. The bank plans to achieve it by focusing on specialized commercial lending, positioning itself as an alternative bank for young people and underserved Canadians, while accelerating investment in technology. (The Logic)

Talking point: Laurentian has been on a search for a path forward after a failed attempt to sell the bank last summer. The plan lays out the vision of CEO Éric Provost, who took the top job in October following a five-day service outage and a boardroom shakeup. Laurentian will also slash its Toronto office space by two-thirds and encourage hybrid work. Shares of Laurentian were down 5.89 per cent mid-afternoon Friday following the release of the strategic plan and its report of a second-quarter loss of $117.5 million, compared with net income of $49.3 million a year earlier.