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CWB reports very strong financial performance for the fourth quarter and fiscal 2017
CWB’s strategic execution and financial performance in fiscal 2017 were both very strong. We maintained our focus on business owners while delivering growth across a broader geographic footprint with increased industry diversification. We also made significant progress toward the upcoming transformation of our capital management processes, and worked to ensure our ongoing technology investments and process improvements position us to meet the rapid pace of growth and change within our industry.
CWB reports very strong third quarter financial performance
CWB Financial Group (TSX: CWB) (CWB) today announced very strong third quarter financial performance as we continue to execute our balanced growth strategy. Compared to the third quarter last year, results included positive loan growth with significantly higher net interest margin, a lower provision for credit losses, ongoing growth of relationship-based branch-raised deposits, record total revenue (teb) and substantial earnings growth, all supported with very strong regulatory capital ratios. Common shareholders’ net income of $56.3 million and pre-tax, pre-provision income (teb) of $100.9 million were up 24% and 9%, respectively.
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