Edmonton, March 3, 2016 – Canadian Western Bank (TSX: CWB) (CWB) today announced solid first quarter financial performance from core operations. The positive impact of strong year-over-year loan and deposit growth was offset by lower net interest margin, the impact of volatile financial markets on net gains/losses on securities, and the increase in Alberta’s provincial corporate tax rate, resulting in common shareholders’ net income from Continuing Operations of $52.1 million, down 1% compared to the same quarter last year. Diluted earnings per common share of $0.65 and adjusted cash earnings per common share of $0.66 were consistent with last year.
For further information, please contact:
AVP, Investor Relations
Canadian Western Bank
Phone: (780) 969-8337
E-mail: [email protected]