ATB Financial

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For other uses, see ATB (disambiguation).
Alberta Treasury Branches
Type Crown Corporation
Founded Rocky Mountain House, Alberta, 1938
Headquarters Edmonton, Alberta
Key people Dave Mowat, President and CEO Robert A. Splane, Chairman of the Board
Industry Financial services
Products Financial services, Wealth Management
Revenue ▲ $845.4 million CAD (2008)[1]
Employees 5,000+
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 670,000 Albertans and Alberta-based businesses. ATB has 164 branches and 133 agencies, serving a total of 244 communities in Alberta. Wealth management services are offered under the name ATB Investor Services or ATBIS. ATB has more than 5,000 employees.

Headquartered in Edmonton, Alberta, Canada, with total assets of C$26.5 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.

Contents

[edit] History

ATB was created by the first Social Credit ministry under William Aberhart on September 29, 1938, after earlier attempts to place Alberta's banks under the provincial government's control 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 Germazian Brothers' West Edmonton Mall[6][7] defaulted on loans that were often granted for political reasons.

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.

[edit] Financials

As of March 31, 2009, ATB reported assets of $26.5 billion, deposits of $23.8 billion, loans of $22.8 billion, equity of $1.8 billion, and a net income of $6.4 million.[8]

ATB Branch, Edmonton.

[edit] Awards

  • 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]

[edit] Memberships

[edit] Contribution to the Community

ATB's community investment program includes sponsorships, donations, associate volunteerism, community contributions, and corporate fundraising programs. They have provided $674,00 in charitable donations, $1 million in corporate sponsorships, $1.1 million in fundraising for charitable causes, and volunteer hours.[citation needed]

[edit] See also

[edit] References

  1. ^ ATB Financial 2008 Annual Report
  2. ^ ATB Financial legal disclaimers - "Alberta Treasury Branches is the owner of the trade name/ trade mark ATB Financial."
  3. ^ http://www.atb.com/dev/news/details.asp?id=57
  4. ^ http://www.theglobeandmail.com/report-on-business/article728538.ece
  5. ^ http://www.prairiepost.net/prairieboys/b1c8.htm
  6. ^ http://www.assembly.ab.ca/ISYS/LADDAR_files%5Cdocs%5Chansards%5Chan%5Clegislature_24%5Csession_3%5C19990421_1330_01_han.pdf
  7. ^ http://www.prairiepost.net/prairieboys/b1c12.htm
  8. ^ ATB Financial - About ATB
  9. ^ "Calgary Herald, "Alberta’s top 40 places to work”, October 18, 2008". http://www.canada.com/calgaryherald/story.html?id=02b19397-2fdf-4039-ba29-b93eaf908adb. 
  10. ^ "Edmonton Journal, "Alberta's best focus on attracting, keeping staff", October 31, 2008". http://www.canada.com/edmontonjournal/story.html?id=5bc8514a-b0eb-4538-bab4-a63f11f51a16. 
  11. ^ "Reasons for Selection, 2009 Alberta's Top Employers competition". http://www.eluta.ca/top-employer-alberta-treasury-branches. 

[edit] External links


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