VersaBank (TSX:VBNK) Credit Losses Provision : C$0.6 Mil (As of Oct. 2023)

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What is VersaBank Credit Losses Provision?

VersaBank's credit losses provision for the three months ended in Oct. 2023 was C$-0.2 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Oct. 2023 was C$0.6 Mil.

VersaBank's quarterly credit losses provision declined from Apr. 2023 (C$0.2 Mil) to Jul. 2023 (C$0.2 Mil) and declined from Jul. 2023 (C$0.2 Mil) to Oct. 2023 (C$-0.2 Mil).

VersaBank's annual credit losses provision increased from Oct. 2021 (C$-0.4 Mil) to Oct. 2022 (C$0.5 Mil) and increased from Oct. 2022 (C$0.5 Mil) to Oct. 2023 (C$0.6 Mil).

VersaBank Credit Losses Provision Historical Data

The historical data trend for VersaBank's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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VersaBank Credit Losses Provision Chart

VersaBank Annual Data

Trend

Oct14

Oct15

Oct16

Oct17

Oct18

Oct19

Oct20

Oct21

Oct22

Oct23

Credit Losses Provision

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-0.30

-0.34

-0.44

0.45

0.61

VersaBank Quarterly Data
	Jan19	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23
Credit Losses Provision	Get a 7-Day Free Trial															0.21	0.39	0.24	0.17	-0.18

VersaBank Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Oct. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was C$0.6 Mil.

VersaBank (TSX:VBNK) Business Description

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VBNK:USA VBNK.PR.A.PFD:Canada

Address

140 Fullarton Street, Suite 2002, London, ON, CAN, N6A 5P2

Website

https://www.versabank.com

VersaBank is a Canadian Schedule I chartered bank with a difference. VersaBank became the world's first digital financial institution when it adopted its highly efficient business-to-business model using its proprietary state-of-the-art financial technology to profitably address underserved segments of the Canadian banking market in the pursuit of superior net interest margins, while mitigating risk. VersaBank obtains all of its deposits and provides the majority of its loans and leases electronically, with innovative deposit and lending solutions for financial intermediaries that allow them to excel in their core businesses. In addition, leveraging its internally developed IT security software and capabilities, VersaBank established a wholly-owned, subsidiary.