CWB Canadian Western Bank Group

CORRECTION: CWB reports financial performance for the fourth quarter and fiscal 2016

EDMONTON, ALBERTA - In the news release, "CWB reports financial performance for the fourth quarter and fiscal 2016," issued earlier today by Canadian Western Bank (TSX:CWB), balances of loans classified as past due but not impaired were overstated within the Credit Quality section of the release. The eighth and ninth sentences of the second paragraph within the Credit Quality section in the Overview of Continuing Operations should read as follows:

"The balance of loans classified as past due but not impaired increased 63% from last year, with the majority of the increase occurring in the third quarter. The total balance of loans classified as past due but not impaired decreased 17% during the fourth quarter to $229.1 million, including a 23% decrease within the personal category to $94.5 million."

This correction replaces the overstated balances of loans classified as past due but not impaired originally issued. The originally issued text read as follows:
"The balance of loans classified as past due but not impaired increased 76% from last year, with the majority of the increase occurring in the third quarter. This balance declined 9% during the fourth quarter to $247.8 million, including a 22% decrease within the personal category to $122.4 million."

 

For further information, please contact:

Matt Evans, CFA
Senior AVP, Strategy & Investor Relations
Canadian Western Bank
Phone: (780) 969-8337
E-mail: matt.evans@cwbank.com