Forging the path to Alberta’s economic recovery: ATB Financial releases second-quarter results
By ATB Financial 18 November 2021 4 min read
Edmonton—ATB Financial’s strong second-quarter results demonstrate consistency and reliability in how Alberta’s financial institution contributes sustainable value to the province while supporting Albertans and their businesses.
In the quarter ending September 30, 2021, ATB Financial delivered total revenue of $466.6M—a $38.2M increase from the same period last year. These results, combined with lower loan loss provisions, led to net income of $138.8M—an increase of $48.4M compared to the same quarter last year.
“ATB Financial continues to be a stabilizing force in Alberta’s economic recovery as we uplift our clients and their businesses through expert advice and solutions,” said Curtis Stange, President and CEO of ATB Financial. “Our financial performance is strong across all of our consumer, business and wealth areas of the organization and has us outperforming where we forecasted to be in the first half of the year.”
Delivering world class expertise, advice, and management, ATB Wealth helped more Albertans grow their investments with assets under administration of $26.4 billion, up from $22.5 billion for the same quarter last year.
From the start of the pandemic, ATB Financial focused on elevating and supporting Alberta’s business community. At quarter end, ATB Financial had administered 43% of all Highly Affected Sectors Credit Availability (HASCAP) loans in Alberta, distributing nearly $170 million of much-needed funds into the hands of its clients.
Towards the end of the second quarter, ATB Capital Markets completed the largest debt capital markets deal in the organization’s history. The team continues to bolster Alberta’s economy by helping companies find success locally and globally with a full suite of financial service solutions for all their treasury, finance and capital markets needs.
“ATB Financial’s results are a proof point to the resilience and adaptability of Albertans,” said Stange, “We will partner with our clients to further amplify those traits as we navigate through the continued disruption and evolution of our economy.”
Other highlights of the quarter include:
- In the second quarter, ATB Financial celebrated its 83rd anniversary of supporting and uplifting Albertans. In that time, the organization has grown and changed from one small Treasury Branch to become the largest Alberta-based financial institution.
- Albertans continue to access convenient digital banking options to complete transactions in a fast and safe way. At the end of the quarter, there were 10.4 million digital transactions completed on ATB Personal and ATB Mobile, an increase of 12% year-over-year.
- Enhancements to safe digital transactions continued in Q2 with Two Factor Authentication in ATB Financial’s Business Banking platform. Additionally, 10,000 business clients migrated to the new platform providing them with a faster, more secure, experience.
- Focused on contributing to the community in more meaningful ways through its Greater Good strategy, in the second quarter ATB Financial raised $85,000 with its 2021 United Way fundraising campaign and contributed a $100,000 donation to help nine mental health organizations navigate the fourth wave of COVID-19.
- ATB Financial recently announced it will host world leaders in Alberta for the Social Progress Imperative Conference on May 31 - June 2, 2022. In connection to ATB’s Greater Good Strategy, the conference will explore social issues and collaborate on how they can be collectively solved for.
- The ATB Financial Charity Classic raised more than $40,000 for the Canadian Mental Health Association while also supporting mental wellness in new ways, including giving a subscription to every player to access the affordable therapy platform, Inkblot.
- ATB Financial was once again the presenting sponsor of the Edmonton International Fringe Theatre Festival, the Calgary Folk Music Festival and the Calgary International Film Festival. The Edmonton International Fringe Festival saw over $350,000 in box office revenue go directly to local artists and theatre groups.
- ATB Financial recognized the inaugural National Day for Truth and Reconciliation and donated more than $50,000 to the Native Counselling Services of Alberta on its path to reconciliation.
- The ATB 101 program, which brings a new graduating class of students to ATB each summer, delivered four successful final projects to three non-profit organizations supporting Indigenous youth. These projects required ATB students to stretch their critical thinking skills and consider their personal responsibility in truth and reconciliation, paving the way for more action and meaningful contributions in the future.
- ATB Financial was recognized by the Content Marketing Awards as having the best content marketing program world-wide in the financial services category. ATB's Good Advice sections on ATB.com were awarded for providing actionable insights and resources to help individuals and businesses across Alberta.
- ATB Financial marked the fifth anniversary of its Four Directions agency, in partnership with Boyle Street Community, and continues to provide financial resources and support to Edmonton’s transient and houseless population.
See ATB’s full second-quarter results.
About ATB Financial
With $55.6 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 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.
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