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CWB named one of Canada's Most Admired Corporate Cultures
CWB Financial Group is thrilled to win a Canada’s Most Admired™ Corporate Culture Award. Certified by Waterstone Human Capital, the award punctuates CWB’s energy and obsession to create a workplace that puts people first, rewards teamwork and embraces change.
Kelly Blackett, Executive Vice President, wins 2020 Report on Business Best Executive Award
CWB Financial Group is pleased to announce that Kelly Blackett, Executive Vice President, Human Resources and Corporate Communications, has won an inaugural Report on Business Best Executive Award.
CWB announces closing of limited recourse capital notes offering
Canadian Western Bank (“CWB”) (TSX: CWB) today announced that it has closed its domestic public offering of $175 million aggregate principal amount of 6.00% Limited Recourse Capital Notes Series 1 (Non-Viability Contingent Capital (NVCC)) (Subordinated Indebtedness) (the “Notes”). The Notes were sold through a syndicate of agents co-led by RBC Capital Markets and National Bank Financial Markets. Net proceeds from the offering will be added to CWB’s general funds and utilized for general banking purposes.
CWB announces limited recourse capital notes offering
Canadian Western Bank (“CWB”) (TSX: CWB) today announced its intent to issue $175 million aggregate principal amount of 6.00% Limited Recourse Capital Notes Series 1 (Non-Viability Contingent Capital (NVCC)) (Subordinated Indebtedness) (the “Notes”). The Notes are to be sold through a syndicate of agents co-led by RBC Capital Markets and National Bank Financial Markets. The expected closing date is on or about October 30, 2020.
CWB update on expected timing of AIRB approval
Edmonton, October 22, 2020 – CWB Financial Group (TSX: CWB) (CWB) today provided an update on our transition to the Advanced Internal Ratings Based (AIRB) approach for regulatory capital and risk management. Our formal application review with the Office of the Superintendent of Financial Institutions Canada (OSFI) continues. It will now include a parallel run of our AIRB models and tools to evaluate their operation through this period of economic volatility. The timeline for approval will be extended, compared to our original expectation of the end of the current fiscal year. We expect to complete our parallel run in 2021 followed by finalization of OSFI’s review. The extended timeline does not change our near-term financial outlook as OSFI’s current industry restrictions limit the deployment of capital through increased dividends or share buybacks.