Laurentian Bank plans to open 20 new branches in Quebec over the next two years as the bank revamps its retail network in the province.

CEO Ray McManus told shareholders at the bank’s annual meeting today that Laurentian plans to expand its presence in its core market under a new three-year business plan to boost profits and expand revenue.

The bank will also develop new ad campaigns, expand services to the farm sector, grow the consumer loans business of its B2B Trust unit through big retailers, and introduce Internet brokerage services.

Last year, Laurentian sold 57 branches in Ontario and Western Canada in a move to focus on Quebec, its home market. It has also offered nearly $52 million to take its B2B trust unit private by buying out minority shareholders.

“The implementation of our three-year business is off to a good start,” McManus said, in a news release. “As witness the bank’s results for this first quarter, we are on track with our objectives.”