CWB Financial Group

CWB reports very strong financial performance for the fourth quarter and fiscal 2017

Edmonton, December 7, 2017 - "CWB’s strategic execution and financial performance in fiscal 2017 were both very strong,” said Chris Fowler, President and CEO. “We maintained our focus on business owners while delivering growth across a broader geographic footprint with increased industry diversification. We also made significant progress toward the upcoming transformation of our capital management processes, and worked to ensure our ongoing technology investments and process improvements position us to meet the rapid pace of growth and change within our industry. Alongside this strong strategic execution, we delivered record total revenues from core operations and record core pre-tax, pre-provision income, with this latter metric exceeding $100 million in back to back quarters for the first time. We also delivered higher net interest margin in every quarter, positive operating leverage, strong credit quality, and increased our annual common share dividend for the 25th consecutive year. To cap off the year, we announced a highly strategic and accretive acquisition of equipment loans and leases, and general commercial lending assets. As we close fiscal 2017, I want to thank our people for their passion and commitment to help both our clients and CWB achieve our strategic goals. Today, we have an incredible opportunity to create exceptional client experiences for business owners across Canada. There is no doubt in my mind that CWB’s future looks more exciting than ever before. Thanks to our tremendous teams, I am very confident in our ability to achieve our full potential together.”

 

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FOR FURTHER INFORMATION CONTACT:

Matt Evans, CFA
Senior AVP, Strategy & Investor Relations
CWB Group
Phone: (780) 969-8337
Email: matt.evans@cwbank.com