Investing deposits back into Alberta: ATB Financial releases Q2 results
EDMONTON, Nov. 14, 2019 /CNW/ - ATB Financial's second-quarter results show Alberta's financial institution continues to serve as a catalyst for economic growth through support for Alberta businesses, innovation, diversification and the energy industry.
The quarter ending September 30, 2019 shows ATB is contributing to Alberta's economy with $36.2 billion in deposits—an increase of almost 4 per cent over the same quarter last year. Those deposits were invested back into Albertans with $46.3 billion in loans.
ATB also contributed $102.4 million to the province's bottom line in the second quarter, an increase of $28.5 million over the previous quarter.
Despite the economic challenges that continue to face Alberta, ATB's assets have remained relatively steady at $53.9 billion.
"Alberta continues to face challenges from many sides, from the Canadian and global economy to the uncertainty around trade," said Curtis Stange, president and CEO of ATB Financial. "Despite this, ATB is helping to grow our province's economy by welcoming more than 12,000 new customers since the same quarter last year while being recognized among Canada's elite for customer experience."
Through careful management, ATB's investment arm, ATB Wealth, helped more Albertans increase their investments with assets under administration that grew to $21 billion, up $1.2 billion from the same quarter last year.
"ATB has always believed in the entrepreneurial spirit, ambition and hard work of Albertans," said Stange. "I am proud of what we have delivered in the past and even more excited about where we are going. We never lose sight of our end goal of delivering remarkable results which allows us to contribute more to Alberta's economic recovery."
Other highlights include:
- ATB overhauled 25-year-old mortgage rules for Albertans purchasing factory-built homes, making the process easier for both builders and homeowners.
- ATB was proud to be recognized by AON and Forrester for Best Employer and Customer Experience.
- ATB hosted 140 young people in August at our Future Transformer Camp in Edmonton and Calgary focusing on game-changing technology including artificial intelligence, machine learning and digital app development.
See ATB's full second-quarter results here
Q2 FY20 By the numbers
$68.0 million - net income
2.2% decrease from Q2 FY19
$419.2 million - operating revenue
0.7% decrease from Q2 FY19
$36.2 billion - deposits
3.8% increase from Q2 FY19
$46.3 billion - loans
0.5% increase from Q2 FY19
$53.9 billion - total assets
0.6% decrease from Q2 FY19
Q2 FY20 People numbers
775,705 - total customers
5,765 - ATB team members
For more information or interview requests, please contact:
ATB Financial,
Media Relations
[email protected]
About ATB Financial
With $53.9 billion in assets, ATB Financial is an Alberta-built financial institution. But don't let that fool you—we're so much more than a bank. We got started in 1938 to help Albertans through tough economic times, and today we have 173 branches, 142 agencies, a Client Care Centre, four entrepreneur centres, and mobile and online banking. And did you know we're fast becoming the digital bank and the bank for entrepreneurs? We're already the place to work for our more than 5,500 team members who love to serve our 775,000-plus customers in 247 Alberta communities. To find out more, visit us at atb.com.
SOURCE ATB Financial
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