ATB Financial ends fiscal year with strong revenue and customer growth
By ATB Financial 30 May 2019 3 min read
Edmonton— ATB Financial celebrated 80 years of serving Albertans with our financial performance achieving record milestones for the fiscal year ending March 31, 2019.
ATB reached our goal of $500 million in income before provisions and continued to reinvest the deposits of Albertans to help grow the economy. ATB supported 16,000 new customers in the past fiscal year and did $20 billion in new lending.
“At ATB, we know our customers are more than calculated risks or credit scores. Their success is our success. Their struggles are ours too,” said Curtis Stange, President and CEO, ATB Financial.
“That means we stand by them in good times and bad. It means being relentless in our quest to listen and to make banking work for them. And for our shareholder, it means delivering impressive revenues in a year of adverse economic conditions.”
ATB is reporting an annual net income of $138.7 million, after accounting for loan loss provisions of $338.1 million. Deposits were up almost 10 per cent over the 2018 fiscal year to reach $35.9 billion. ATB saw record income before provisions of $518.5 million, a $57.3 million increase over the fiscal year 2018. ATB’s assets under the administration of its wealth management division, ATB Wealth, grew to over $20 billion.
“It was a big year for ATB,” said Bob McGee, Chief Financial Officer, ATB Financial. “Delivering these results in the midst of challenging economic conditions is a testament to the grit and creativity of our team members and our genuine obsession with listening to customers.”
ATB also broke new ground with innovations that make a real difference to our customers. They can now open a new account in 10 minutes or less, and can receive approval on a retail loan application within hours—instead of days or weeks. Our customers can also grow their own net worth and Alberta’s economy at the same time with the Choose Alberta GIC.
Highlights of the year include:
- ATB continued to be recognized as one of Canada’s best workplaces placing second in the national list of Great Places to Work.
- Numerous transformation activities such as Onboarding Express, reducing the time it takes to open a personal banking account to under 10 minutes.
- Advancing Brightside, ATB’s first digital-only banking offer for Albertans, in preparation for fiscal year 2020 launch.
- ATB’s Build Her Businesscrowdfunding campaign encouraged women entrepreneurs to start and grow their business raising close to $230,000 for participants.
- Deposit Yourself Here: gives ATB the opportunity to change the lives of our customers each month by rewarding them for banking and saving with us.
- The appointment of Joan Hertz as Chair of ATB Financial’s Board of Directors.
- The appointment of Curtis Stange as President and CEO of ATB Financial.
- Reached more than $4 million in fundraising and direct donations to 250 charities, a third of that through ATB's United Way and Teddy for a Toonie campaigns; sparked nearly $5 million in further charitable donations through ATB Cares; served as a catalyst for community events with $7.5 million in sponsorships; and invested in financial literacy programs at 96 schools across Alberta with Junior ATB.
- Branch for Arts and Culture: recognizing that banks can strengthen their support for the arts community, The Branch is dedicated to deeply understanding and serving artists and arts organizations in Alberta.
FY19 YTD by the numbers
$138.7 million - net income
49.5% decrease from FY18 (due to loan loss provisions)
$518.5 million - income before provisions
12.4% increase from FY18
$1.68 billion - operating revenue
6.3% increase from FY18
$35.9 billion - deposits
9.9% increase from FY18
$47.0 billion - loans
6.6% increase from FY18
$54.3 billion - total assets
4.7% increase from FY18
FY19 YTD people numbers
768,955 - total customers
5,665 - ATB team members
See ATB’s complete annual report.
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About ATB Financial
With $54.3 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 174 branches, 143 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 close to 770,000 customers in 247 Alberta communities. To find out more, visit us at atb.com.