On September 3, VersaBank (NASDAQ:VBNK) reported its results for the third quarter ended July 31, 2026.
The quarter marked another period of record credit **** ets, revenue, and net interest income. Strong growth was supported by continued momentum in the company's Structured Receivable Program (SRP) in the United States and steady growth in Canada.
Fiscal 2026 is proving to be a breakout year for the company in terms of top-line growth and the company expects the momentum to accelerate further in fiscal 2027 based on continued expansion of its US SRP business and the launch of its Real-Time SRP, which the company describes as a breakthrough in point-of-sale industry funding.
After the quarter ended, VersaBank (NASDAQ:VBNK) also achieved a very noteworthy milestone as it surpassed $7 billion in total **** ets for the first time. The company's business continues to expand and it said it is increasingly realizing the operating leverage of its cloud-based, branchless, business-to-business model. Net income rose 53% year-over-year, while adjusted (core) net income increased 27%.
A key part of the bullish case for VersaBank (NASDAQ:VBNK) is the continued expansion of its SRP portfolio in the US. The company set a fiscal 2027 target of at least $3 billion in new SRP fundings on its own balance sheet and also pointed to significant additional upside potential.
#versabank #business #fiscal
The quarter marked another period of record credit **** ets, revenue, and net interest income. Strong growth was supported by continued momentum in the company's Structured Receivable Program (SRP) in the United States and steady growth in Canada.
Fiscal 2026 is proving to be a breakout year for the company in terms of top-line growth and the company expects the momentum to accelerate further in fiscal 2027 based on continued expansion of its US SRP business and the launch of its Real-Time SRP, which the company describes as a breakthrough in point-of-sale industry funding.
After the quarter ended, VersaBank (NASDAQ:VBNK) also achieved a very noteworthy milestone as it surpassed $7 billion in total **** ets for the first time. The company's business continues to expand and it said it is increasingly realizing the operating leverage of its cloud-based, branchless, business-to-business model. Net income rose 53% year-over-year, while adjusted (core) net income increased 27%.
A key part of the bullish case for VersaBank (NASDAQ:VBNK) is the continued expansion of its SRP portfolio in the US. The company set a fiscal 2027 target of at least $3 billion in new SRP fundings on its own balance sheet and also pointed to significant additional upside potential.
#versabank #business #fiscal
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