Balanced first quarter for ATB Financial: New lending, increased deposits support economy
By Karin Põldaas 15 August 2019 2 min read
Edmonton— ATB Financial’s solid first-quarter results show strong support for Albertans with increased deposits that are then invested back into our province. ATB is contributing to the growth of Alberta’s economy with over $5 billion in new loans for the quarter ending June 30, 2019.
“We know that times have been tough for many Albertans and through it all we have been here, providing expert advice and much needed capital,” said Curtis Stange, president and CEO of ATB Financial. “Just as we have been here for Albertans, ATB is here for our province, serving as a catalyst for economic growth—from supporting entrepreneurs and our energy industry to helping Albertans purchase a home and build wealth.”
ATB’s investment arm, ATB Wealth, continues to help more Albertans grow their wealth and assets under administration rose to $20.7 billion, up over $1 billion from last year’s first quarter.
“With our entrepreneur centres, our unwavering support for the energy industry and our investment in new and varied industries, ATB is well-equipped to support Albertans now and in the future,” said Stange. “We will be where our customers need us, whether that be online as we invest in our digital offerings or in the more than 100 communities where ATB is the only local financial institution.”
Highlights of the quarter include:
- ATB committed $250,000 to support agriculture technology, research and education through Olds College’s high-tech Smart Farm.
- ATB’s Financial Legacy Fund partnership with Ducks Unlimited’s Revolving Land Conservation Program helped to conserve and restore land in Alberta.
- ATB reached a milestone in our Teddy for a Toonie campaign raising $10 million for Alberta children’s healthcare over the past 20 years.
- ATB’s entrepreneur centre in Grande Prairie celebrated one year of helping to make dreams a reality and grow the local economy.
- ATB partnered with the Prostate Cancer Centre to bring the fifth annual ATB Man Van tour to 11 destinations across the province, including two First Nations. There were a total of 12 clinics and for the first time, along with the PSA blood test for men age 40-80 years, the Man Van offered a quick mental health check.
- After a trial in Calgary, the ATB X business accelerator program made its debut in Edmonton and online. ATB is now positioned to serve even more entrepreneurs through this innovative program.
- ATB received a number of awards in the first quarter, including:
- Second best workplace in the Canada’s Best Workplaces 2019
- Named as one of the Best Workplaces™ in Canada for mental wellness and giving back
Q1 FY20 By the numbers
$433.9 million - operating revenue
5.3% increase from Q1 FY19
$45.8 million - net income
20.1% decrease from Q1 FY19
$36.1 billion - deposits
4.8% increase from Q1 FY19
$46.5 billion - loans
3.1% increase from Q1 FY19
$54.2 billion - total assets
1.6% increase from Q1 FY19
Q1 FY20 People numbers
771,784 - total customers
5,773- ATB team members
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