indicatorStories

Sticking by our clients through a ‘rollercoaster’ third quarter

By Adam Rozenhart 18 February 2021 2 min read

Edmonton river valley sunset

When ATB Financial President and CEO Curtis Stange thinks back on the last quarter—and the last year—he sees two sides of the same coin.

“On one side, there is the reality of the pandemic and continued pressure on Albertans and Alberta businesses,” he said. “The other side of the coin is the resilient, adaptable, and eternally optimistic people we have in Alberta.”

Stange is reflecting on ATB’s third-quarter results, and what they signal not only for the company, but for the province. He’s cautiously optimistic for a gradual economic recovery on the horizon, and is hopeful for the rest of 2021 and beyond.

During the third quarter of ATB’s fiscal year, which ended on December 31, 2020, ATB invested in Alberta and supported clients with new and renewed loans of $4.6 billion, with new and renewed business loans up 34.4% from the same quarter last year.

These are remarkable results, especially given the rollercoaster that was the third quarter, as Stange described it.

“In October, we were getting together with a small cohort of friends and family. We were in restaurants. And then not too far into the quarter, into November and early December, the second wave of COVID-19 was really upon us,” Stange said. 

But even in that second wave, Stange noted that despite the uncertainty, ATB team members worked hard to be there for Albertans.

“We remained very focused on our clients, providing them with guidance and advice.”

ATB Chief Financial Officer Dan Hugo agrees.

“We supported our clients when they needed us. We reached out to them, we partnered with them,” Hugo said. “We stood beside them by providing loans and access to capital. We facilitated more than a billion dollars worth of loans from the government to our clients.”

ATB’s support of the province went beyond loans and banking services. For example, ATB’s Teddy for a Toonie campaign raised $311,000 for youth mental health programs at the Stollery and Alberta Children's hospitals. 

“We were there to truly support and be a good neighbour to our fellow Albertans,” Hugo said.

Now as Stange looks ahead at the next quarter and beyond, he’s optimistic about what’s in store for the province.

“We will come out of this with not only two strong base industries like energy and agriculture, but a flourishing technology ecosystem,” he said.

“And with our financial expertise, technical resources, growth mindset, and adaptability, ATB will be there front and centre for Alberta.”

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