VersaBank Reports Strong Third Quarter Results: Accelerating US SRP Growth Drives 23% Year-Over-Year Increase in Revenue, 53% Growth in Net Income and 27% Growth in Adjusted (Core) Net Income as It Continues to Benefit from Operating Leverage
VersaBank reported record Q3 fiscal 2026 results, with consolidated revenue up 23% year-over-year to C$38.8 million and net income up 53% to C$10.1 million, driven by accelerating US Structured Receivable Program growth. Adjusted (core) net income rose 27% to C$12.3 million (C$0.38 per share vs GAAP EPS of C$0.31), as total assets hit a record C$6.9 billion (up 26%) and credit assets grew 29% to C$6.16 billion; total SRP assets reached US$793 million and the Bank surpassed C$7 billion in assets just after quarter end.
Key figures
- Eps
- 0.31
- Revenue
- 38809000
- Guidance
- Fiscal 2027 target of at least US$3 billion (more than CAD$4 billion) in new US SRP fundings on the Bank's own balance sheet
- Revenue Yoy
- 23%
- Nim
- 2.19%
- Roe
- 7.14%
- Cet1 ratio
- 11.47%
- Net income
- 10060000
- Srp assets
- US$793 million
- Adjusted eps
- 0.38
- Adjusted roe
- 8.72%
- Total assets
- 6875238000
- Credit assets
- 6161542000
- Net income yoy
- 53%
- Efficiency ratio
- 65%
- Credit assets yoy
- 29%
- Reporting currency
- CAD
- Adjusted net income
- 12303000
- Total capital ratio
- 13.32%
- Book value per share
- 17.45
- Nim on credit assets
- 2.44%
- Dividends paid common
- 809000
- Adjusted net income yoy
- 27%
- Adjusted efficiency ratio
- 57%
- Non core non interest expenses
- 3100000
AI analysis
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