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CWB to acquire GE Capital's Canadian Franchise Finance business

Canadian Western Bank (CWB) (TSX: CWB) today announced its recent signing of an asset purchase agreement to acquire GE Capital’s Canadian Franchise Finance business. The business provides financing across Canada to a diverse group of established companies in the hospitality and restaurant industries. The acquisition will include key employees required to complement CWB’s continued strategic commercial banking growth and geographic expansion. The balance of loans to be acquired is approximately $350 million. The transaction is expected to close in CWB’s third quarter of fiscal 2016, subject to customary approvals.

For further information, please contact:

Kirby Hill, CFA
Vice President, Strategy & Communications
Canadian Western Bank
Phone: (780) 441-3770
E-mail: [email protected]

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