Edmonton — ATB Financial’s second-quarter (Q2) results ending September 30, 2023 demonstrate solid performance in a high inflationary and interest rate environment.

ATB Financial recorded total revenue of $503.2 million in Q2 (up 4.0 per cent from last year). The increase was driven by net interest income of $344.4 million and $158.8 million in other income (up 4.2 per cent and 3.5 per cent, respectively, from last year). In addition, ATB provided over $7.5 billion in new and renewed loans to Albertans and Alberta businesses (up 18.5 per cent from last year). The majority of this growth came from the Energy sector with additional increases in Real Estate, Agriculture and ATB’s mortgage portfolios.

“Driven by record population growth and a reinvigorated energy sector, Alberta has weathered the inflation storm better than others,” said Curtis Stange, President and CEO, ATB Financial. “While such economic progress is promising, Albertans continue to grapple with affordability challenges. We remain committed to providing our clients and their businesses with personalized solutions and expert guidance to navigate through such volatility.”

Net income for the quarter was $87.3 million, a decrease from the same time last year due to higher non-interest expenses largely attributed to inflationary pressures. Other income increased due to a boost from ATB Capital Markets, with both equity and debt deals seeing year-over-year growth. ATB Capital Markets generated income of $15.6 million in Q2, up 81.6 per cent from the previous year. Alongside favourable market conditions, the team’s reputation as a trusted advisor was recently demonstrated during its Institutional Investor Conferences hosted in New York that brought together market leading companies to showcase and share industry expertise.

”Our deep expertise and strong market offerings allow us to provide value to our clients, to help them adapt and thrive to the changing landscape around them,” added Stange. “By offering a full suite of financial service solutions, we are able to ensure Alberta's established and emerging growth sectors are well served.”

See ATB Financial’s full second-quarter results here.

Q2 Highlights

• ATB Financial launched its second $50 million private equity fund dedicated to making minority interest investments in Alberta-based small and mid-market enterprises.
• ATB Capital Markets created a Capital Markets Women’s Rotation Program, a 24-month program providing new graduates with hands-on experience in investment banking, financial markets and corporate banking.
• ATB Financial opened a new Advisory Hub in Red Deer that brings together Business, Wealth, and Personal banking clients and offers advisory services, digital banking solutions, and innovative community spaces.
• In September, ATB Financial reaffirmed its commitment to Truth and Reconciliation as it continues to engage and support Indigenous Peoples, communities and organizations in Alberta.
• Work Design Magazine named ATB Financial as a winner of the 2023 Next Work Environment Award for its leading edge hybrid work environment.
• As part of its recent expansion into British Columbia, ATB Wealth engaged in community sponsorships and engagement with Opera Kelowna and the Okanagan Granfondo and donated to the United Way British Columbia - Southern Interior Wildfire Recovery Fund.
• Supporting the Lois Hole Hospital for Women, ATB Financial donated $50,000 to support its new Indigenous Cultural Partnership program. The partnership aims to enhance the care of Indigenous patients and their families in areas such as incorporating ceremony into events like labour and delivery, increasing Indigenous representation within the physical spaces of the hospital, and trauma-informed practice training.