Built to help Albertans: ATB Financial ends fiscal year with solid results
By ATB Financial 21 May 2021 5 min read
Edmonton—ATB Financial ended an unprecedented fiscal year with strong financial results as it helped Albertans face the challenges of the global pandemic and positioned itself to continue strengthening Alberta’s economy.
As the COVID-19 pandemic took hold, ATB Financial came through with client relief, charitable donations, economic diversification and increased innovation—all to improve the client experience and allow Albertans to focus on what matters to them. ATB Financial’s strategic investment in leading edge technology meant it quickly became a leader in facilitating five different government relief programs within days of their introduction, getting over $1 billion quickly into the hands of Albertans and their businesses so they could forge a new path forward.
“When the pandemic hit, we knew we could make a difference during one of the biggest challenges of our generation,” said Curtis Stange, President and CEO of ATB Financial. “With creativity and empathy, our team members connected with thousands of clients across the province. We helped Albertans and their businesses diversify and adapt by providing personalized financial advice and solutions.”
For the fiscal year ending March 31, 2021, ATB Financial delivered record operating revenue of $1.8 billion—up 3.0% year-over-year—and continued to improve efficiency through prudent expense management. ATB Financial is in a solid financial position to continue fuelling Alberta’s economic recovery with record income before provisions of $544.5 million and assets of $55.7 billion.
Throughout the year, ATB Capital Markets became active in mergers and acquisitions and the sourcing of debt and equity capital for clients. It established a leadership role in the life sciences sector, reaching top market share positions in Canada and the United States. The highly specialized team completed 34 deals across North America worth nearly $1.3 billion and recently broadened its sector expertise to focus on innovation. This helps Alberta technology companies navigate a disruptive marketplace and compete globally for capital.
ATB Financial’s investment management arm, ATB Wealth, helped clients continue to meet their financial goals during this time of uncertainty by growing their investments and achieving assets under administration of close to $25 billion, up from $20 billion last fiscal.
“While this year has challenged us all in ways we couldn’t possibly have imagined, we have witnessed so much courage, resilience and innovation. More than anything, this past year has strengthened our resolve and belief that Alberta will emerge from this stronger than ever,” said Stange. “As Alberta’s financial institution—born during the Great Depression to help the province return to prosperity—ATB Financial was built to help Albertans, and that commitment holds true as we look to the brighter future we know lies ahead.”
Highlights of the year include:
Built to help Albertans:
- ATB Financial continued to improve the digital experience and put clients first with the launch of both a new personal and business app.
- ATB Wealth continued to be recognized for investment excellence.
- ATB Financial was proud to be named one of the top three places to work in the country by Great Place to Work Canada—the fifth time ATB Financial has been recognized since 2016 and the only financial institution to make the list’s top 10. ATB Financial was also named one of Canada’s Best Workplaces for Giving Back for a second year in a row and one of Canada’s 2021 Best Workplaces for Women.
In business for the Greater Good:
- ATB Financial introduced its Greater Good strategy, boldly committing to help tackle some of society’s greatest challenges: access to mental health; access to education and access to technology—all with the goal of raising the overall wellbeing of Albertans.
- ATB Financial team members raised over $500,000 for the United Way in Alberta to help the province’s most vulnerable, donated $311,000 to support children’s mental health in Alberta through the annual Teddy for a Toonie campaign and raised over $7 million for charities through ATB Cares.
- To uplift Albertans and clients, ATB Financial championed local businesses and activated #ATBGoodnessGrows which included providing free lunches to truckers, coffee to first responders and discounts on food from local restaurants for health-care workers and teachers as a way of thanking those keeping Alberta safe during the pandemic.
- As meaningful social awakenings across the globe shaped this year, ATB Financial reflected on its own diversity and inclusion and committed to mitigating bias and breaking down barriers for Black, Indigenous and otherwise racialized communities and team members.
- ATB Financial quickly supported the physical and psychological safety of its team members during the pandemic, including introducing a new employee and family assistance program, digital resiliency tools and additional wellness days.
Positioning ATB Financial for the future:
- ATB Ventures, ATB Financial’s research and development arm, made a strategic investment in Radical Ventures, a venture capital firm focused on artificial intelligence.
- ATB Ventures continued to lean heavily into technology and innovation with new digital identity solutions—Oliu and Proof.
- ATB Financial partnered with AltaML on an applied data science student internship program to help solve real-world problems and with MindFuel to launch the Crack the Code Challenge to get young Canadians coding and building the skills of tomorrow.
ATB Financial will hold its Annual Public Meeting via livestream this morning with an address from President and CEO Curtis Stange, Board Chair Joan Hertz, QC., and Chief Financial Officer Dan Hugo.
See ATB Financial’s complete annual report.
About ATB Financial
With $55.7 billion in assets, ATB Financial is an Alberta-built financial institution that is a catalyst for economic growth in our province. We got started in 1938 to help Albertans through tough economic times. Today, ATB Financial’s more than 5,000 team members love to deliver exceptional experiences to over 800,000 clients through our many branches and agencies, our 24-hour Client Care Centre, four entrepreneur centres, and our digital banking options. Everything we do is focused on how we can serve Albertans—from providing expert advice and supporting entrepreneurs to helping Albertans buy a home and grow their wealth.
For more information and a link to the livestream, please contact:
ATB Financial, Media Relations email@example.com