Solid second quarter puts ATB on pace for banner year

EDMONTON, Calgary and 240 other Alberta communities, Nov. 20, 2014 /CNW/ - 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."

Click on the video for more from Dave on ATB's second quarter:

http://youtu.be/UylZGUZcZm8

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.

Q2 By The Numbers

$81.7M – Net income
9.5% - Increase from 2014 Q2

$352.6M – Revenue
3.9% - Increase from 2014 Q2

$35.1B – Loans
10.3% - Increase from 2014 Q2

$29.8B – Deposits
19.5% - Increase from 2014 Q2

66.7% - Efficiency ratio for first six months of FY2015
0.9% - Improvement from FY2014

$12.2B – Customer mutual funds and investments
27.4% - Increase from 2014 Q2

By The People

20,095 – New customers for first six months of FY2015
14.3% - Increase from FY2014

SOURCE: ATB Financial

or interview requests, please give one of us a call. Glenn Kubish, Director of Media & Story, ATB Financial, Cell: [phone]; Office: [phone], Email: [email protected]; Barry Strader, Corporate Reporter, ATB Financial, Cell: [phone]; Office: [phone], Email: [email protected]