ATB Financial

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For other uses, see ATB (disambiguation).
Alberta Treasury Branches
Type Crown Corporation
Industry Financial services
Founded Rocky Mountain House, Alberta, 1938
Headquarters Edmonton, Alberta
Key people

Dave Mowat, President and CEO

Brian Hesje, Chairman of the Board
Products Financial services, Wealth Management
Revenue Increase $8.5 billion CAD (2011)[1]
Employees 5,300+
Website http://www.atb.com

Alberta Treasury Branches, doing business as ATB Financial,[2] is a financial institution and crown corporation owned by the Province of Alberta. ATB operates in Alberta only, providing financial services to 680,000 Albertans and Alberta-based businesses. ATB has 167 branches and 130 agencies, serving a total of 242 communities in Alberta. Wealth management services are offered under the name ATB Investor Services or ATBIS. ATB has more than 5,300 employees.

Headquartered in Edmonton, Alberta, Canada, with total assets of C$36.4 billion, ATB is the largest Alberta-based financial institution.

ATB is not a chartered bank, and unlike all banks operating in Canada, ATB is regulated entirely by the Government of Alberta, under the authority of the Alberta Treasury Branches Act, Chapter A-37.9, 1997, and Treasury Branches Regulation 187/97. The legislation is modeled on the statutes and regulations governing other financial institutions and other guidelines to financial institutions issued by the federal Office of the Superintendent of Financial Institutions and the Canada Deposit Insurance Corporation. ATB Financial is one of fifteen financial institutions that participates in Canada's Large Value Transfer System.

History[edit]

ATB was created by the first Social Credit government of Premier William Aberhart on September 29, 1938, after earlier attempts to impose government control over banks operating in Alberta were thwarted by the federal government. The first Alberta Treasury Branch was opened in Rocky Mountain House on September 29 of that year. ATB is the most significant surviving remnant of social credit economic policies in Alberta.

ATB was the subject of scandal in the late 1980s after clients such as Peter Pocklington's Gainers Foods[3][4][5] and the Ghermezian Brothers' West Edmonton Mall[6][7] defaulted on loans.

In the 1990s, the government reformed ATB with the intention of transforming it into a competitive financial institution. An independent board of directors was established in 1996. On October 8, 1997, ATB formally became a provincial crown corporation. Since then, it has operated under a board of directors selected by the Alberta government. It adopted the moniker ATB Financial in January 2002.

Financials[edit]

As of March 31, 2011, ATB reported assets of $27.4 billion, deposits of $24.0 billion, loans of $22.9 billion, equity of $1.96 billion, and a net income of $198.5 million.[8]

ATB Branch, Edmonton.

Awards[edit]

  • In October 2008, ATB was named one of Alberta’s Top Employers by Mediacorp Canada Inc., which was announced by the Calgary Herald[9] and the Edmonton Journal.[10][11]
  • Named one of Alberta’s top 35 companies to work for.[citation needed]
  • Received honourable mention in Alberta Venture’s awards for the Best Workplace for Volunteerism and Community Involvement, the Best Workplace for Working Parents, and the Best Workplace for Millennials.[citation needed]
  • Awarded Outstanding Corporation award in the Edmonton Philanthropy Day celebrations.[citation needed]

Memberships[edit]

Contribution to the Community[edit]

ATB's community investment program includes sponsorships, donations, associate volunteerism, community contributions, and corporate fundraising programs. They have provided $674,000 in charitable donations, $1 million in corporate sponsorships, $1.1 million in fundraising for charitable causes, and volunteer hours.[citation needed]

See also[edit]

References[edit]

http://www.canadastop100.com/alberta/

External links[edit]