ATB Financial delivers robust first-quarter and reaffirms commitment to Alberta with first dividend payment

Important Note: Wildfires are impacting many Albertans and ATB Financial is here for our clients and communities. Supporting local organisations, ATB and our team members have donated over $75,000 to the Unite for Wildfire Response and Recovery fund established by the United Way. ATB continues to operate in a safe, secure and trusted way for the people who are depending on us. If you are a client and in need of financial support, please visit ATB.com/help or any ATB branch.

EDMONTON, AB, Aug. 15, 2024 /CNW/ - ATB Financial announced robust first-quarter results for fiscal year 2025, highlighting significant loan and deposit growth. ATB Financial remains confident in its ability to navigate the current economic cycle and deliver sustained value to its clients and the province.

For the quarter ending June 30, 2024, ATB Financial reported total revenue of $534 million, a 7.2 per cent increase compared to the same period last year. This growth was primarily driven by a 7.9 per cent year-over-year increase in loans, reflecting the company's unwavering support for the Alberta economy. Net loans reached $51.8 billion by the end of the quarter. Total deposits also rose by 4.4 per cent compared to the same period last year, reaching $42.1 billion.

Net income for the quarter was $105.0 million, a decrease from the previous year following strategic investments in personnel and technology to support future business growth. This decrease was partially offset by strong growth in other income, reaching $181.2 million, a 9.0 per cent increase year-over-year, driven by ATB Financial's expanding advisory services for its business clients.

Additionally, the company reported $28.6 billion in assets under administration, underscoring its position as a leading investment firm.

Reinforcing its dedication to Alberta, ATB Financial paid its first-ever dividend of $25.0 million this quarter. This follows its February 2024 announcement of ATB being in a position to declare $100.0 million in total quarterly dividends to its Shareholder, the Alberta Government, for fiscal year 2025.

"ATB Financial serves as a catalyst for growth in Alberta by offering expert advice and personalised solutions to nearly 820,000 clients. With a solid balance sheet and a net loan portfolio nearing $52 billion—an increase of almost $4 billion from last year—ATB is one of the strongest regional banks in the industry," said Curtis Stange, President and CEO, ATB Financial.

See ATB Financial's full quarter results here.

Q1 Highlights

• ATB Capital Markets announced the expansion of its services with the launch of a Fixed Income Trading Desk, demonstrating the firm's commitment to evolving alongside client needs and fostering business growth within the Canadian market.
• ATB Financial's annual business summit, held in May, convened industry leaders to discuss Alberta's evolving economic landscape. Experts shared insights on emerging trends and growth opportunities across sectors including real estate, energy, technology, and agriculture.
• ATB Financial celebrated its ninth consecutive year on the Top 50 Best Workplaces™ by Great Place to Work^® Canada. ATB placed fourth out of over 800 companies and ranked among the top 1 per cent of employers across the country for its commitment to Mental Wellness and for Inclusion.
• ATB Wealth continued its expansion of advice and award-winning investment products into Saskatchewan.
• Providing valuable market insights, ATB Capital Markets released its Spring 2024 Energy Sector Survey which revealed tempered expectations for 2024 with sustained long-term optimism.
• ATB Financial sponsored The Energy Roundtable conference in Calgary where over 400 delegates and industry speakers shared their views on how Canada is evolving its energy systems.
• Along with recent contributions to the Unite for Wildfire Response and Recovery Fund, ATB Financial also donated more than $300,000 to charities across the province. This included donations to the Woodland Cree First Nations "Reader in Residence Program" and to the Edmonton Food Bank for their Brown Bag Campaign.

About ATB Financial
With $62.0 billion in assets, ATB Financial is a leading financial institution that started in Alberta with the focus of putting people first. Our success comes from our more than 5,000 team members who love to deliver exceptional experiences to nearly 820,000 clients across our Personal and Business Banking, ATB Wealth Management and ATB Capital Markets businesses. ATB provides expert advice, services and products through our many branches and agencies, our 24-hour Client Care Centre, four entrepreneur centres and our digital banking options. ATB powers possibilities for our clients, communities and beyond. More information about ATB can be found at atb.com.

For more information or interview requests, please contact: 
ATB Financial, Media Relations Team [email protected]

SOURCE ATB Financial