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Canadian Western Bank
Canadian Western Bank (CWB) investor relations material
Canadian Western Bank has been acquired
Canadian Western Bank Q4 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2024 earnings summary18 Dec, 2024
Executive summary
Full-year revenue increased 6%, with net interest margin up 11 basis points and franchise deposits rising 5%, while pre-tax, pre-provision income rose 8% year-over-year.
Annual net income for common shareholders declined 17% year-over-year, with diluted EPS of $2.76 and adjusted EPS of $3.01, reflecting higher expenses and transaction-related costs.
The National Bank of Canada (NBC) acquisition is progressing, with shareholder and Competition Bureau approvals received and closing expected in 2025.
A legal claim involving a subsidiary delayed Q4 results, but internal investigation found no impact on financial statements or controls.
Strong, resilient balance sheet supports prudent growth and ongoing integration planning with NBC.
Financial highlights
Total annual revenue rose 6% to $1.2 billion, with net interest income up 6% and non-interest income up 8% year-over-year.
Pre-tax, pre-provision income for the year was $570 million, up 8% year-over-year; Q4 was $143 million, flat year-over-year.
Adjusted diluted EPS for Q4 2024 was $0.67, down from $0.80 in Q4 2023, impacted by NBC transaction costs and non-recurring reorganization expenses.
CET1 capital ratio increased to 10.3% in Q4 2024, up 60 basis points year-over-year and above the regulatory minimum.
Common share dividend increased to $0.36 per share, up 6% year-over-year.
Outlook and guidance
Management expects steady Canadian economic growth in 2025, with inflation within target and policy rate reductions.
Provision for credit losses anticipated to remain elevated in early 2025, gradually declining in the second half as economic conditions normalize.
Projected strong annual growth in pre-tax, pre-provision income and adjusted EPS, assuming stable macroeconomic conditions.
Anticipate solid revenue growth, continued net interest margin expansion, and positive operating leverage.
Maxium claim: operational changes made?
What specific market factors impact asset values?
What is the outlook for new loan origination?
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Canadian Western Bank
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Frequently asked questions
Canadian Western Bank is a Canadian financial institution that provides a range of commercial, personal, and wealth management services. The bank offers loans, deposits, leasing, and treasury solutions with a focus on small and medium-sized businesses across Western Canada. It operates through branches and digital platforms. Canadian Western Bank is headquartered in Edmonton, Canada, and its shares are listed on the TSX.
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