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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.
CWB Financial Group donates $15,000 to BC fire relief efforts
CWB Financial Group has made a $15,000 donation to the Canadian Red Cross to support communities affected by the ongoing fires in southern British Columbia.
CWB Franchise Finance partners with Browns Restaurant Group on term loan and development facility
CWB Franchise Finance, a division of CWB Financial Group, has provided a multi-product loan facility to Browns Restaurant Group, an award-winning Canadian franchisor based in Vancouver. The funds will be used to consolidate and refinance existing corporate debt as the company grows their presence across Western Canada and enters the Eastern Canada market.
CWB Franchise Finance partners with Donnelly Group on term loan and development facility
CWB Franchise Finance, a division of CWB Financial Group, has provided a $12 million term loan and Development Line of Credit to Donnelly Group, owners of 14 pubs and cocktail bars in Vancouver and Toronto. The funds will be used to consolidate and refinance existing corporate debt and support future growth.
CWB reports strong second quarter financial performance
Canadian Western Bank (TSX: CWB) (CWB) today announced strong second quarter financial performance including very strong earnings growth from the same quarter last year, positive loan growth, strong growth of relationship-based branch-raised deposits, higher net interest margin, stable credit quality and very strong regulatory capital ratios. Pre-tax, pre-provision income (teb) of $90.8 million was up 4% and common shareholders’ net income of $47.6 million was 48% higher.