Gateway Gazette

Solid second quarter puts ATB on pace for banner year

Edmonton, Calgary and 240 other Alberta communities – Strong growth in the number of customers along with more loans and deposits added up to solid second quarter results for ATB Financial. ATB posted a net income of $81.7 million for the quarter ending September 30, 2014, just shy of the record profit ATB recorded in the fiscal year’s opening quarter.

Customer loans surpassed $35 billion in the second quarter, representing growth of 10.3 per cent since the second quarter of last year. Customers also continued to save more and, as a result, total deposits reached $29.8 billion, growing by 19.5 per cent over last year’s second quarter.

“The numbers are great, that’s for sure, but what means the most to me is the fact that those numbers are being created by talented ATB team members earning the loyalty and trust of customers,” says Dave Mowat, ATB’s President & CEO.

“We’ve welcomed more than 20,000 new customers through our front doors so far this fiscal year. And while that definitely means more loans and deposits, it also means more Albertans are building connections with ATB team members they trust to help plan for the future. And from where I sit, that future looks bright.”

In the first six months of this fiscal year, ATB’s growth of 20,000 new customers combined with net income of $165.6 million represents the strongest six-month results in the company’s history.

It was a particularly strong quarter for ATB’s largest area of expertise, Retail Financial Services, which generated a net income of $18.7 million, up nearly $11 million from the same quarter last year.

But the bottom line isn’t the only line we measure. ATB’s annual Teddy for a Toonie campaign, featuring grassroots fundraising at ATB branches and corporate headquarters, raised over $900,000 combined for the Stollery and Alberta Children’s Hospitals.

For the complete story on ATB’s results, including Management’s Discussion and Analysis, please visit ATB.com.

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