Bank of Alberta
| Founded | 1984 |
|---|---|
| Founder | Dr. Charles Allard and Eugene Pechet |
| Defunct | 1988 |
| Fate | Bank of Alberta and the Western & Pacific Bank of Canada merged to become Canadian Western Bank |
| Successor | Merged into modern-day Canadian Western Bank (CWB) |
| Headquarters | Edmonton, Alberta , |
The Bank of Alberta was a bank based in Edmonton, Alberta, Canada. It was chartered in 1984.[1]
The Bank later became part of Canadian Western Bank (CWB), and was formed during a challenging economic environment that pushed many competitors to rein in their activities in key western markets.[1] As a result, the bank ultimately had a significant impact on the evolution of modern banking in Western Canada.[2]
In 1988, the Bank of Alberta amalgamated with Western & Pacific Bank to become Canadian Western Bank (CWB).[1] As of 2010, the CWB has total balance sheet assets of just under $12 billion, assets under administration of over $8 billion and assets under management approaching $1 billion.[3]
Formation
When the bank commenced operations in 1984 it was led by Canadian Business Hall of Fame member Dr. Charles Allard[1][4] and Eugene Pechet,[1][4][5] starting with three employees working out of a boardroom located in one of Pechet's hotels in Edmonton, Alberta.[5]
The government supported the newly formed Bank of Alberta by investing in 5% of its shares.[6]
See also
References
- ^ a b c d e "About Us: Our Story". Canadian Western Bank Group Corporate Website. Canadian Western Bank Group. Retrieved 10 November 2015.
- ^ Dale Orr. "The Economic Determinants of Entry into Canadian Banking: 1963-7". 7. Canadian Journal of Economics: 82–99. JSTOR 134216.
{{cite journal}}: Cite journal requires|journal=(help) - ^ "Canadian Western Bank Group".
- ^ a b "Canadian Western Bank celebrates 20th birthday". Investment Executive. March 22, 2004. Retrieved 10 November 2015.
- ^ a b "Canadian Western Bank Group, Annual Report 2008, Page 20" (PDF). Canadian Western Bank Group Corporate Website. Canadian Western Bank Group. Retrieved 10 November 2015.
- ^ "Canadian Parliamentary Review, Legislative Reports, Vol 7 no 3, 1984".