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ATB Financial leverages economic recovery to deliver best-ever results

Posted on: May 24, 2018

FY18 By the Numbers

  • $274.6 M – Net income
  • 82.1% - Increase from FY17

  • $1,582.9 M – Operating revenue
  • 7.3% - Increase from FY17

  • $44.1 B – Loans
  • 8.1% - Increase from FY17

  • $32.7 B – Deposits
  • 3.7% - Decrease from FY17

  • $51.9 B – Total assets
  • 6.9% - Increase from FY17

FY18 By the People

  • 753,269 – Total customers
  • 5,302 – ATB Team Members

Edmonton—Impressive growth in loans and assets along with a strengthened Alberta economy resulted in record numbers for ATB Financial’s fiscal year ending March 31, 2018.

ATB’s net income was $274.6 million, an increase of 82 per cent from the previous year’s level of $150.8 million.

“Economic improvements in Alberta certainly helped us deliver these outstanding results. But our customers and ATB team members are at the heart of our success,” said ATB President & CEO Dave Mowat.

“We’ve taken our commitment to listen to Albertans very seriously, and our pledge to make banking work for our customers has proven successful.”

The final balance sheet shows a list of record results including:

  • Highest ever operating net income
  • Best income before provision for loan losses
  • Highest operating revenue in a single quarter
  • Highest operating revenue in a single year

Loans stood at $44.1 billion, up 8.1 per cent from $40.8 billion the year before. Deposits decreased 3.7 per cent, from $33.9 billion to $32.7 billion.

“Our commitment is to always be there for Albertans—we didn’t tighten up staffing or reduce service to customers. We increased loans—even when times got tough. Loan loss provisions were a struggle during the recession, but we believed things would improve,” said Mowat. “That approach paid off.”

Corporate Financial Services continued its pattern of growth posting a net income of $239.7 million.

Business & Agriculture, which supports Alberta’s small and medium-sized businesses, posted a net income of $140.7 million, more than double what it was the year before.

Retail Financial Services turned a corner with net income of $12.3 million after posting a loss the previous year. With a network of 175 branches and 141 agencies that serve the majority of ATB’s customers, Retail Financial Services continues to be the most prominent face of ATB’s brand and our focus on outstanding customer experiences.

ATB Investor Services concluded a remarkable year with $18.7 billion in assets under administration, an increase of $1.9 billion compared to last year. Net income for the year was $39.6 million. Compass Portfolios continued to perform and added new awards to its collection—including four Fundata FundGrade™A+ awards.

ATB continued to invest in technology and innovation by launching the world’s first full-featured virtual banking assistant in Facebook Messenger, partnering with the University of Alberta to investigate artificial intelligence and exploring opportunities in the world of blockchain and cryptocurrencies. The year also brought more choice in digital payments with Fitbit Pay, Google Pay and Samsung Pay all available to ATB customers.

Along with an impressive balance sheet, ATB delivered on a commitment to help people who have been under-served by financial services. Four Directions Financial is using innovative technology and other strategies to serve a vulnerable population in downtown Edmonton. Artists, businesses and non-profits working in Alberta’s creative industries are visiting The Branch for Arts & Culture. Two new Entrepreneur Centres are up and running in Lethbridge and Grande Prairie, complementing the centres that opened in Calgary and Edmonton in 2016.

ATB donated $3.1 million to charities, spent $6.6 million on sponsorships and fundraised $1.3 million through corporate social responsibility initiatives. This includes ATB’s annual Teddy for a Toonie campaign ($612,000) for the Stollery and Alberta Children’s Hospital foundations, as well as the annual United Way campaign ($690,000) which includes corporate matching. Through ATB Cares, Albertans have donated $4.8 million to 860 registered charities.

The year brought new recognitions including:

Team member engagement reached a record-high 91 per cent.

See the complete annual report

For more information or interview requests, please contact:

Michelle Stead
Senior Content Editor, Media & Story
ATB Financial
587-987-4213
mstead@atb.com

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