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company_logo = [[File:Canadian Western Bank Logo.svg|250px]]|
company_logo = [[File:Canadian Western Bank Logo.svg|250px]]|
company_type = [[Public company|Public]]<br />{{tsx|CWB}} |
company_type = [[Public company|Public]]<br />{{tsx|CWB}} |
foundation = [[Edmonton]], [[Alberta]], 1988 |
foundation = [[Edmonton]], [[Alberta]], 1984 |
location = [[Edmonton]], [[Alberta]], [[Canada]] |
location = [[Edmonton]], [[Alberta]], [[Canada]] |
key_people = [[Larry Pollock]], CEO |
key_people = [[Larry Pollock]], CEO |
industry = [[Bank]] |
industry = [[Financial Services]] |
⚫
revenue = {{profit}} $423 million [[Canadian dollar|CAD]] (2010) |
products = Financial services |
⚫
revenue = $423 million [[Canadian dollar|CAD]] (2010) |
net_income = {{profit}} $164 million [[Canadian dollar|CAD]] (2010) |
net_income = {{profit}} $164 million [[Canadian dollar|CAD]] (2010) |
assets = $12.7 billion [[Canadian dollar|CAD]] (2010 |
assets = {{profit}} $12.7 billion [[Canadian dollar|CAD]] (2010 |
num_employees = 1,716 (Full-time equivalent, 2010) |
num_employees = 1,716 (Full-time equivalent, 2010) |
homepage = [http://www.cwbankgroup.com/ www.cwbankgroup.com]
homepage = [http://www.cwbankgroup.com/ www.cwbankgroup.com]
}}
}}
The '''Canadian Western Bank''' '''(CWB)''' ({{lang-fr|La Banque Albertaine Canadian Western Bank}}) is the seventh largest Canadian Schedule 1 bank measured by market capitalization and is the largest publicly traded Canadian bank headquartered in Western Canada. The bank is primarily focused on serving small and mid-sized companies in the areas of general commercial financing, commercial real estate and construction financing, energy lending, and large-scale equipment financing and leasing. In addition to providing comprehensive business banking services, the bank also offers a complete range of personal banking products and services. CWB and its operating affiliates, which are together known as Canadian Western Bank Group (CWB Group), offer a diversified range of financial services through approximately 40 banking branches, eight trust locations, two centralized insurance offices, a focused commercial equipment leasing centre and one wealth management location.
The '''Canadian Western Bank''' ({{lang-fr|La Banque Albertaine Canadian Western Bank}}) ({{TSX|CWB}}) is a [[bank]] that is based in [[Edmonton, Alberta|Edmonton]], and which operates primarily in western [[Canada]]. The bank serves personal and commercial clients in Western Canada.


CWB Group employs more than 1,800 people working in over 50 different communities across Canada. The CWB Group’s collective offering of banking, trust, insurance and wealth management provides its customers with a full complement of financial services.
⚫
==History==

==Operations and Corporate Structure==
[[File:Canada western bank edmonton.jpg|thumb|200px|right|CWB Headquarters in Edmonton, Alberta, Canada.]]
[[File:Canada western bank edmonton.jpg|thumb|200px|right|CWB Headquarters in Edmonton, Alberta, Canada.]]


Canadian Western Bank’s corporate headquarters are located at Canadian Western Bank Place, 10303 Jasper Avenue in Edmonton, Alberta, Canada. Built in 1980 and assigned its current moniker in 1998, Canadian Western Bank Place stands 30 stories tall and encompasses approximately 408,000 square feet.
The bank first became a Schedule I chartered bank on March 22, 1984 under its original name, the [[Bank of Alberta]].


Canadian Western Bank’s operating affiliates include:
The bank further grew in 1988 by amalgamation of the Western & Pacific Bank of Canada (chartered in 1982) and the [[Bank of Alberta]] (chartered in 1984).<ref>{{cite web | url = http://www.cwbankgroup.com/about_us/history.htm | title = Canadian Western Bank - History | publisher = Canadian Western Bank | accessdate = 2010-01-24}}</ref>
⚫
* Canadian Direct Insurance Inc. (100% ownership) – insurance products and services.
* Canadian Western Financial Ltd. (100% ownership) – mutual fund dealer.
* Canadian Western Trust Company (100% ownership) – personal and corporate trust services. Optimum Mortgage, a division of Canadian Western Trust Company, offers residential mortgages via a network of mortgage brokers.
* National Leasing Group Inc. (100% ownership) – commercial equipment leasing.
* Valiant Trust Company (100% ownership) – specialty trust services including stock transfer, corporate trust, escrow and employee plan services.
* Adroit Investment Management Ltd (76.5% ownership) – investment and wealth management.


⚫
==History==
⚫
In 1993, it acquired Western Canadian branches of Metropolitan Trust.
The Bank was chartered as a Canadian Schedule 1 Bank on March 22, 1984 under its original name, the Bank of Alberta. In the early 1980’s, a sharp decline in petroleum prices combined with steep hikes in interest rates and negative economic fallout from the “[[National Energy Program]]” plunged Alberta into a severe economic downturn. At that time, the Bank’s founders, Dr. Charles Allard and Mr. Eugene Pechet, held the unconventional view that this recessionary period would be a good time to start a bank. Their inspiration came from personal experiences in dealing with eastern-based banks that did not fully appreciate or understand the unique dynamics of doing business in Western Canada. The founders’ vision was to build a successful western Canadian-based bank that was committed to serving businesses and individuals in the west. The business strategy was to offer comprehensive banking services delivered with specific expertise and highly personalized customer service; the Bank continues to maintain this strategy today.
In 1994, Canadian Western Bank and North West Trust Company amalgamated as Canadian Western Bank. In 1996, it acquired BC Bancorp (chartered in 1967), and purchased the Aetna Trust Company, which was renamed Canadian Western Trust Company. In 2001, it acquired the Kelowna and Regina branches of the [[Laurentian Bank of Canada]].


On April 29, 1988, the [[Bank of Alberta]] and the Western & Pacific Bank of Canada (chartered in 1982) amalgamated to become Canadian Western Bank.[1] From that day forward, the Bank has built a long history of financial success (90 consecutive profitable quarters measured at its 2010 fiscal year end) by consistently demonstrating an impressive track record of organic growth, mergers and acquisitions. CWB has also been recognized for its dedicated approach to adding value for its clients, employees and shareholders. Today, the Bank and its affiliates are known as the Canadian Western Bank Group, a financially strong, full-service financial institution that offers services in the areas of banking, trust, wealth management and insurance.
==Mergers==
Other financial services acquired by CWB:


==Corporate Timeline==
* [[Bank of Alberta]] (chartered 1984)

* Western Canadian Branches of Metropolitan Trust 1983
* 1984 - [[Bank of Alberta]] (chartered 1984) commenced operations with a $31 million initial public offering (IPO) on the Toronto Stock Exchange
⚫
* Acquired BC Bancorp (chartered 1967) 1996
* 1988 - [[Bank of Alberta]] and Western & Pacific Bank of Canada (chartered 1982) amalgamated as Canadian Western Bank
⚫
* Aetna Trust Company 1996 - renamed Canadian Western Trust Company 1996
⚫
* 1993 - Acquired western Canadian branches of Metropolitan Trust
⚫
* Canadian Western Capital Ltd (formerly Majendie Charlton Securities Ltd.) 1997 - sold to Goepel McDermid Inc 2000
* 1994 - Canadian Western Bank and North West Trust Company amalgamated as Canadian Western Bank
* Kelowna and Regina branches of Laurentian Bank 2001
⚫
* 1995 - Acquired Aetna Trust Company – (renamed Canadian Western Trust Company)
⚫
* Canadian Direct Insurance Inc. (CDII) 2004
⚫
* 1996 - Acquired BC Bancorp (chartered 1967)
⚫
* Valiant Trust Company 2004
* 1997 - Acquired majority ownership of Majendie Charlton Securities Ltd. (renamed Canadian Western Capital Ltd.)
* Acquired branch of National Bank of Greece (Canada) 2005
⚫
* 2000 - Sold Canadian Western Capital Ltd. to Goepel McDermid Inc.
* 2004 - Acquired Canadian Direct Insurance Inc.
⚫
* 2004 - Acquired Valiant Trust Company
* 2008 - Acquired majority ownership of Adroit Investment Management Ltd.
* 2010 - Acquired National Leasing Group Inc.


==Services==
==Services==
[[File:Edmonton Skyline.jpg|thumb|200px|left|CWB Headquarters in Edmonton, Alberta, Canada.]]
[[File:Edmonton Skyline.jpg|thumb|200px|right|CWB Headquarters in Edmonton, Alberta, Canada.]]
Services provided by CWB:
Services provided by CWB:


* Best 50 Employers in Canada – (Ranked 47th) – 2007
* Mortgages
* Best 50 Employers in Canada – (Ranked 44th) – 2008
* Loans
* 30 Best Pension & Benefit Plans in Canada – 2008
* Personal accounts
* Best 50 Employers in Canada – (Ranked 35th) – 2009
* Investment products
* Best 50 Employers in Canada – (Ranked 35th) – 2010
* Business accounts
* Best 50 Employers in Canada – (Ranked 27th) – 2011
* (Small) business lending
* Canada’s 10 Most Admired Corporate Cultures – 2011
* Insurance
* Credit Card (MasterCard)


==Membership==
==Membership==
Line 59: Line 69:
* [[Cirrus Network]]
* [[Cirrus Network]]
* [[The Exchange (Canada)]]
* [[The Exchange (Canada)]]

==Branch Locations==
* British Columbia - [http://www.cwbank.com/default2.htm 17 Branches]
* Alberta - [http://www.cwbank.com/default2.htm 17 Branches]
* Saskatchewan - [http://www.cwbank.com/default2.htm Four Branches]
* Manitoba - [http://www.cwbank.com/default2.htm One Branch]


==See also==
==See also==
Line 65: Line 81:


==External links==
==External links==
* [http://www.cwbankgroup.com/ Official site]
* [http://www.cwbankgroup.com/ Canadian Western Bank Group (official site)]
* [http://www.cwbank.com/default2.htm Bank web site]
* [http://www.cwbank.com/default2.htm Canadian Western Bank]
* [https://www.canadiandirectfinancial.com/Personal/ Canadian Direct Financial]
* [http://www.cwt.ca/default2.htm Canadian Western Trust]
* [http://www.cwt.ca/default2.htm Canadian Western Trust]
* [http://www.valianttrust.com Valiant Trust]
* [http://www.valianttrust.com Valiant Trust]
* [http://www.canadiandirect.com Canadian Direct Insurance]
* [http://www.canadiandirect.com Canadian Direct Insurance]
* [http://www.nationalleasing.com/index.php National Leasing]
* [http://www.adroitinvestments.ca/ Adroit Investment Management]


==References==
==References==

Revision as of 23:39, 26 July 2011

Canadian Western Bank
Company typePublic
TSX: CWB
IndustryFinancial Services
FoundedEdmonton, Alberta, 1984
HeadquartersEdmonton, Alberta, Canada
Key people
Larry Pollock, CEO
RevenueIncrease $423 million CAD (2010)
Increase $164 million CAD (2010)
Total assetsIncrease $12.7 billion CAD (2010
Number of employees
1,716 (Full-time equivalent, 2010)
Websitewww.cwbankgroup.com

The Canadian Western Bank (CWB) (French: La Banque Albertaine Canadian Western Bank) is the seventh largest Canadian Schedule 1 bank measured by market capitalization and is the largest publicly traded Canadian bank headquartered in Western Canada. The bank is primarily focused on serving small and mid-sized companies in the areas of general commercial financing, commercial real estate and construction financing, energy lending, and large-scale equipment financing and leasing. In addition to providing comprehensive business banking services, the bank also offers a complete range of personal banking products and services. CWB and its operating affiliates, which are together known as Canadian Western Bank Group (CWB Group), offer a diversified range of financial services through approximately 40 banking branches, eight trust locations, two centralized insurance offices, a focused commercial equipment leasing centre and one wealth management location.

CWB Group employs more than 1,800 people working in over 50 different communities across Canada. The CWB Group’s collective offering of banking, trust, insurance and wealth management provides its customers with a full complement of financial services.

Operations and Corporate Structure

CWB Headquarters in Edmonton, Alberta, Canada.

Canadian Western Bank’s corporate headquarters are located at Canadian Western Bank Place, 10303 Jasper Avenue in Edmonton, Alberta, Canada. Built in 1980 and assigned its current moniker in 1998, Canadian Western Bank Place stands 30 stories tall and encompasses approximately 408,000 square feet.

Canadian Western Bank’s operating affiliates include:

  • Canadian Direct Insurance Inc. (100% ownership) – insurance products and services.
  • Canadian Western Financial Ltd. (100% ownership) – mutual fund dealer.
  • Canadian Western Trust Company (100% ownership) – personal and corporate trust services. Optimum Mortgage, a division of Canadian Western Trust Company, offers residential mortgages via a network of mortgage brokers.
  • National Leasing Group Inc. (100% ownership) – commercial equipment leasing.
  • Valiant Trust Company (100% ownership) – specialty trust services including stock transfer, corporate trust, escrow and employee plan services.
  • Adroit Investment Management Ltd (76.5% ownership) – investment and wealth management.

History

The Bank was chartered as a Canadian Schedule 1 Bank on March 22, 1984 under its original name, the Bank of Alberta. In the early 1980’s, a sharp decline in petroleum prices combined with steep hikes in interest rates and negative economic fallout from the “National Energy Program” plunged Alberta into a severe economic downturn. At that time, the Bank’s founders, Dr. Charles Allard and Mr. Eugene Pechet, held the unconventional view that this recessionary period would be a good time to start a bank. Their inspiration came from personal experiences in dealing with eastern-based banks that did not fully appreciate or understand the unique dynamics of doing business in Western Canada. The founders’ vision was to build a successful western Canadian-based bank that was committed to serving businesses and individuals in the west. The business strategy was to offer comprehensive banking services delivered with specific expertise and highly personalized customer service; the Bank continues to maintain this strategy today.

On April 29, 1988, the Bank of Alberta and the Western & Pacific Bank of Canada (chartered in 1982) amalgamated to become Canadian Western Bank.[1] From that day forward, the Bank has built a long history of financial success (90 consecutive profitable quarters measured at its 2010 fiscal year end) by consistently demonstrating an impressive track record of organic growth, mergers and acquisitions. CWB has also been recognized for its dedicated approach to adding value for its clients, employees and shareholders. Today, the Bank and its affiliates are known as the Canadian Western Bank Group, a financially strong, full-service financial institution that offers services in the areas of banking, trust, wealth management and insurance.

Corporate Timeline

  • 1984 - Bank of Alberta (chartered 1984) commenced operations with a $31 million initial public offering (IPO) on the Toronto Stock Exchange
  • 1988 - Bank of Alberta and Western & Pacific Bank of Canada (chartered 1982) amalgamated as Canadian Western Bank
  • 1993 - Acquired western Canadian branches of Metropolitan Trust
  • 1994 - Canadian Western Bank and North West Trust Company amalgamated as Canadian Western Bank
  • 1995 - Acquired Aetna Trust Company – (renamed Canadian Western Trust Company)
  • 1996 - Acquired BC Bancorp (chartered 1967)
  • 1997 - Acquired majority ownership of Majendie Charlton Securities Ltd. (renamed Canadian Western Capital Ltd.)
  • 2000 - Sold Canadian Western Capital Ltd. to Goepel McDermid Inc.
  • 2004 - Acquired Canadian Direct Insurance Inc.
  • 2004 - Acquired Valiant Trust Company
  • 2008 - Acquired majority ownership of Adroit Investment Management Ltd.
  • 2010 - Acquired National Leasing Group Inc.

Services

CWB Headquarters in Edmonton, Alberta, Canada.

Services provided by CWB:

  • Best 50 Employers in Canada – (Ranked 47th) – 2007
  • Best 50 Employers in Canada – (Ranked 44th) – 2008
  • 30 Best Pension & Benefit Plans in Canada – 2008
  • Best 50 Employers in Canada – (Ranked 35th) – 2009
  • Best 50 Employers in Canada – (Ranked 35th) – 2010
  • Best 50 Employers in Canada – (Ranked 27th) – 2011
  • Canada’s 10 Most Admired Corporate Cultures – 2011

Membership

CWB is a member of the Canadian Bankers Association (CBA) and registered member with the Canada Deposit Insurance Corporation (CDIC), a federal agency insuring deposits at all of Canada's chartered banks. It is also a member of:

Branch Locations

See also

External links

References



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