ATB grows loans to $53.1bn, expands with BCV Asset Management acquisition
ATB Financial has announced its second-quarter results for fiscal 2025, reporting growth in loans and deposits alongside its second $25m dividend payment to the Alberta Government.
The company remains on track to declare $100m in dividends by the end of the fiscal year.
Curtis Stange, president and CEO of ATB Financial, stated that the institution’s growth and financial contributions are contributing to Alberta’s development.
He added, “The continued growth of ATB Financial, through dividends to the Alberta Government and strong financial results, is helping build a stronger Alberta now and for the future.”
Stange highlighted the organisation’s ranking as number two among midsize banks in Canada for client satisfaction in the J.D. Power 2024 Canada Retail Banking Satisfaction Study.
ATB Financial reported $526.2m in total revenue for the second quarter, reflecting a 4.6 percent increase compared to the same period last year.
This growth was driven by a 6.7 percent year-over-year rise in net loans, totalling $53.1bn, and a 4.4 percent increase in deposits, which reached $43bn.
Net income for the quarter reached $105.3m, supported by growth in net interest income and an 8.5 percent rise in other income, which amounted to $172.3m.
The increase in other income is attributed to the success of the company’s advisory services. Assets under administration were reported at $29.9bn.
ATB Financial entered into an agreement to acquire BCV Asset Management Inc., a Manitoba-based portfolio management firm.
The acquisition is expected to expand the company’s wealth management services across Western Canada, with its impact set to be reflected in the third-quarter financial report.
The company achieved bronze certification in the Partnership Accreditation in Indigenous Relations (PAIR) program as part of its ongoing work in advancing Truth and Reconciliation.
It hosted its 2024 Energy and Life Sciences Institutional Investors' Conferences in New York City, attracting nearly 40 investment firms and 80 corporate attendees. Alberta’s Premier delivered a keynote address at the event.
ATB Capital Markets released its Fall 2024 Energy Sector Survey, which outlined tempered growth expectations for the Canadian energy sector while identifying potential catalysts for future development. Its Fall 2024 Cannabis Survey revealed a softening sentiment within the cannabis sector.
In collaboration with MNP, ATB Financial released Opening the Door to Opportunity II, which highlights the economic contributions of Indigenous communities in Alberta.
The company also provided more than $450,000 in funding to 30 community organisations, including CASA Mental Health for its Preschool Mental Health Program and Inn From the Cold for its Prevention & Diversion Program.
A new initiative in partnership with Impact Genome introduced grant recipients to standardised impact assessments and measurement tools.
ATB’s Women's Rotation Program in capital markets celebrated its first year with participation nearly doubling. The program continues to provide a variety of experience opportunities for participants.
Additionally, ATB Financial supported Jasper’s recovery from recent wildfires by donating $50,000 to a benefit concert. The event provided an uplifting experience for the community and attracted further financial contributions.
