Important Note: Wildfires are impacting
many Albertans and ATB Financial is here for our clients and
communities. Supporting local organisations, ATB and our team
members have donated over $75,000 to
the Unite for Wildfire Response and Recovery fund established
by the United Way. ATB continues to operate in a safe, secure and
trusted way for the people who are depending on us. If you are a
client and in need of financial support, please visit ATB.com/help
or any ATB branch.
EDMONTON, AB, Aug. 15,
2024 /CNW/ - ATB Financial announced robust
first-quarter results for fiscal year 2025, highlighting
significant loan and deposit growth. ATB Financial remains
confident in its ability to navigate the current economic cycle and
deliver sustained value to its clients and the province.
For the quarter ending June 30,
2024, ATB Financial reported total revenue of $534 million, a 7.2 per cent increase compared to
the same period last year. This growth was primarily driven by a
7.9 per cent year-over-year increase in loans, reflecting the
company's unwavering support for the Alberta economy. Net loans reached
$51.8 billion by the end of the
quarter. Total deposits also rose by 4.4 per cent compared to the
same period last year, reaching $42.1
billion.
Net income for the quarter was $105.0
million, a decrease from the previous year following
strategic investments in personnel and technology to support future
business growth. This decrease was partially offset by strong
growth in other income, reaching $181.2
million, a 9.0 per cent increase year-over-year, driven by
ATB Financial's expanding advisory services for its business
clients.
Additionally, the company reported $28.6
billion in assets under administration, underscoring its
position as a leading investment firm.
Reinforcing its dedication to Alberta, ATB Financial paid its first-ever
dividend of $25.0 million this
quarter. This follows its February
2024 announcement of ATB being in a position to declare
$100.0 million in total quarterly
dividends to its Shareholder, the Alberta Government, for fiscal
year 2025.
"ATB Financial serves as a catalyst for growth in Alberta by offering expert advice and
personalised solutions to nearly 820,000 clients. With a solid
balance sheet and a net loan portfolio nearing $52 billion—an increase of almost $4 billion from last year—ATB is one of the
strongest regional banks in the industry," said Curtis Stange, President and CEO, ATB
Financial.
See ATB Financial's full quarter results here.
Q1 Highlights
- ATB Capital Markets announced the expansion of its services
with the launch of a Fixed Income Trading Desk, demonstrating the
firm's commitment to evolving alongside client needs and fostering
business growth within the Canadian market.
- ATB Financial's annual business summit, held in May, convened
industry leaders to discuss Alberta's evolving economic landscape. Experts
shared insights on emerging trends and growth opportunities across
sectors including real estate, energy, technology, and
agriculture.
- ATB Financial celebrated its ninth consecutive year on the Top
50 Best Workplaces™ by Great Place to Work® Canada. ATB placed fourth out of over 800
companies and ranked among the top 1 per cent of employers across
the country for its commitment to Mental Wellness and for
Inclusion.
- ATB Wealth continued its expansion of advice and award-winning
investment products into Saskatchewan.
- Providing valuable market insights, ATB Capital Markets
released its Spring 2024 Energy Sector Survey which revealed
tempered expectations for 2024 with sustained long-term
optimism.
- ATB Financial sponsored The Energy Roundtable conference in
Calgary where over 400 delegates
and industry speakers shared their views on how Canada is evolving its energy systems.
- Along with recent contributions to the Unite for Wildfire
Response and Recovery Fund, ATB Financial also donated more
than $300,000 to charities across the
province. This included donations to the Woodland Cree First
Nations "Reader in Residence Program" and to the Edmonton Food Bank
for their Brown Bag Campaign.
About ATB Financial
With $62.0 billion in assets, ATB
Financial is a leading financial institution that started in
Alberta with the focus of putting
people first. Our success comes from our more than 5,000 team
members who love to deliver exceptional experiences to nearly
820,000 clients across our Personal and Business Banking, ATB
Wealth Management and ATB Capital Markets businesses. ATB provides
expert advice, services and products through our many branches and
agencies, our 24-hour Client Care Centre, four entrepreneur centres
and our digital banking options. ATB powers possibilities for our
clients, communities and beyond. More information about ATB can be
found at atb.com.
For more information or interview requests, please
contact:
ATB Financial, Media Relations Team
media@atb.com
SOURCE ATB Financial