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Canadian Western Bank

 
Hoover's Profile: Canadian Western Bank
 
(Pink Sheets:CBWBF) (Toronto:CWB)
Contact Information
Canadian Western Bank
Canadian Western Bank Place, Ste. 2300, 10303 Jasper Ave.
Edmonton, Alberta T5J 3X6, Canada
Tel. 780-423-8888
Fax 780-423-8897

Type: Public
On the web: http://www.cwbank.com
Employees: 1,402
Employee growth: 8.9%

With all of Canada's Big Six banks firmly entrenched in the eastern provinces (and increasingly moving south of the border into the US), Canadian Western Bank remains committed to the Great West. It offers banking products and services to businesses and individuals through more than 30 branch offices in western Canada; almost 90% of its loans are made in British Columbia and Alberta. The bank's consumer services include residential mortgages, consumer loans, and deposit products. Its Canadian Direct Insurance unit offers home, auto, and travel coverage.

Key numbers for fiscal year ending October, 2008:
Sales: $242.5M
One year growth: (13.7%)
Net income: $84.4M
Income growth: (16.3%)

Officers:
Chairman: Jack C. Donald
President and CEO: Larry M. Pollock
EVP: William J. Addington

Competitors:
Scotiabank
RBC Financial Group
TD Bank

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Wikipedia: Canadian Western Bank
 
Canadian Western Bank
Type Public company
Founded Edmonton, Alberta , 1988
Headquarters Edmonton, Alberta, Canada
Key people Larry Pollock
Industry Bank
Products Financial services
Revenue $221.8 million CAD (2006)
Employees 1,287 (2008)[1]
Website http://www.cwbankgroup.com/

The Canadian Western Bank (TSXCWB) is a bank that is based in Edmonton, and which operates primarily in western Canada. The bank serves personal and commercial clients in Western Canada.

Contents

History

The bank was formed in 1988 by amalgamation of the Western & Pacific Bank of Canada (chartered in 1982) and the Bank of Alberta (chartered in 1983).[2]

In 1993, it acquired Western Canadian branches of Metropolitan Trust. In 1994, Canadian Western Bank and North West Trust Company amalgamated as Canadian Western Bank. In 1996, it acquired BC Bancorp (chartered in 1967), and purchased the Aetna Trust Company, which was renamed Canadian Western Trust Company. In 2001, it acquired the Kelowna and Regina branches of the Laurentian Bank of Canada.

Mergers

Other financial services acquired by CWB:

  • Bank of Alberta (chartered 1983)
  • Western Canadian Branches of Metropolitan Trust 1983
  • Acquired BC Bancorp (chartered 1967) 1996
  • Aetna Trust Company 1996 - renamed Canadian Western Trust Company 1996
  • Canadian Western Capital Ltd (formerly Majendie Charlton Securities Ltd.) 1997 - sold to Goepel McDermid Inc 2000
  • Kelowna and Regina branches of Laurentian Bank 2001
  • Canadian Direct Insurance Inc. (CDII) 2004
  • Valiant Trust Company 2004
  • Acquired branch of National Bank of Greece (Canada) 2005

Services

Services provided by CWB:

  • Mortgages
  • Loans
  • Personal accounts
  • Investment products
  • Business accounts
  • (Small) business lending
  • Insurance
  • Credit Card (MasterCard)

Membership

CWB is a member of the Canadian Bankers Association (CBA) and registered member with the Canada Deposit Insurance Corporation (CDIC), a federal agency insuring deposits at all of Canada's chartered banks. It is also a member of:

See also: List of Canadian banks

External links

References

  1. ^ "Company Profile for Canadian Western Bank (CA;CWB)". http://zenobank.com/index.php?symbol=CA;CWB&page=quotesearch. Retrieved on 2008-10-07. 
  2. ^ "Canadian Western Bank - History". Canadian Western Bank. http://www.cwbank.com/about_us/history.asp. Retrieved on 2006-04-24. 



 
 

 

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Wikipedia. This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Canadian Western Bank" Read more