CWB reports solid credit quality and strong performance from banking, trust and wealth management operations

Edmonton, September 3, 2015 – Canadian Western Bank (TSX: CWB) (CWB) today announced strong third quarter financial performance from core banking, trust and wealth management operations, along with divestiture gains of $1.33 per diluted common share.

Strong year-over-year loan growth and ongoing stable credit quality contributed to common shareholders’ net income from Continuing Operations, inclusive of $5 million of net losses on securities, of $51.2 million, down 3% compared to the same quarter last year. Diluted earnings per common share of $0.64 and adjusted cash earnings per common share of $0.65 were down 2% and 3%, respectively.

Common shareholders’ net income from Continuing Operations, diluted earnings per common share and adjusted cash earnings per common share were all relatively consistent with the prior quarter.

Year-to-date common shareholders’ net income from Continuing Operations of $155.1 million increased 4%, while diluted and adjusted cash earnings per common share of $1.93 and $1.96 were up 5% and 4%, respectively.
Excluding net realized gains/losses on securities in all periods, third quarter adjusted cash earnings per common share from Continuing Operations increased 10% compared to the same quarter last year, 6% from the prior quarter, and 13% on a year-to-date basis. 

Read the release in full

For Further Information Contact:

Matt Evans, CFA
Assistant Vice President, Investor Relations
Canadian Western Bank
Phone: (780) 969-8337
E-mail: [email protected]