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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Canadian Western Bank    CWB   CA13677F1018

CANADIAN WESTERN BANK

(CWB)
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Canadian Western Bank : CWB's first GTA location brings better full-service business banking to Ontario

10/14/2020 | 10:36am EST

New Mississauga banking centre a crucial development in the continued growth of Canada's seventh-largest publicly traded bank

EDMONTON, AB, Oct. 14, 2020 /CNW/ - Canadian Western Bank's (CWB) newest full-service banking centre and first physical location in Ontario is a crucial development in the continued execution of its growth and diversification strategy. Already, almost one-third of CWB's loan portfolio is in Ontario, and a significant opportunity exists to convert these primarily lending relationships into more full-service client relationships.

"CWB is in growth mode, and we are expanding to meet the full needs of business owners in Ontario," says Stephen Murphy, Executive Vice President, Banking. "Business owners tell us it feels very different dealing with CWB because of our team's specialized expertise combined with our proactive, personal approach to building relationships. We are a boutique bank for business owners, and we are at our best serving clients who believe a high-touch, close partnership with their bank is an important part of their success."

Despite delays and challenges caused by COVID-19, CWB's new Mississauga location is now open and ready to serve clients. "The initial response from local business owners has been really positive and is early proof that this market is ready for a clear alternative that provides the level of premium service, advice and partnership that CWB does," says Mark Stafford, Mississauga-based Vice President and District Manager for CWB. "During periods of disruption like this one, business owners often think about what they really need from a financial partner. Our agility, expertise and come-to-you spirit will set our client experience apart in the GTA."

CWB chose the location at 2000 Argentia Road for the opportunity to partner with Mississauga's diverse range of businesses, including top-flight manufacturing, technology, retail, financial services and real estate. The branch offers specialty business banking services for small- and medium-sized companies, as well as full-service personal banking options. It is equipped with safe deposit boxes, night depository, wheelchair accessibility, Wi-Fi and a 24-hour ABM offering surcharge-free service to partners of THE EXCHANGE® Network. The branch is currently open Monday to Friday from 10:00 a.m. to 3:00 p.m., and to promote physical distancing, clients can speak with a CWB Relationship Manager during regular business hours by phone, email or over video collaboration tools.  Hand sanitizers, plexiglass separators and enhanced cleaning protocols are in place for the safety of our team and clients.

About Canadian Western Bank

Canadian Western Bank (TSX:CWB.TO) is a chartered, full-service bank that offers business and personal banking solutions and expertise, along with an unwavering obsession with our clients' success. We've offered customized financial solutions for over 35 years and operate with a clear focus on meeting the unique financial needs of business owners. Through our network of branches, business offices and mobile relationship teams, we help clients grow their businesses, manage their money and realize their financial potential. Learn more at www.cwbank.com.

SOURCE Canadian Western Bank

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2020 890 M 683 M 683 M
Net income 2020 249 M 192 M 192 M
Net Debt 2020 - - -
P/E ratio 2020 10,7x
Yield 2020 3,75%
Capitalization 2 668 M 2 052 M 2 049 M
Capi. / Sales 2020 3,00x
Capi. / Sales 2021 2,92x
Nbr of Employees 2 502
Free-Float 97,5%
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Technical analysis trends CANADIAN WESTERN BANK
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Mean consensus HOLD
Number of Analysts 12
Average target price 30,75 CAD
Last Close Price 30,63 CAD
Spread / Highest target 17,5%
Spread / Average Target 0,39%
Spread / Lowest Target -18,4%
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Managers
NameTitle
Christopher H. Fowler President, CEO & Non-Independent Director
Robert Lawrence Phillips Chairman
Vladimir Ahmad Senior Vice President-Operations & Transformation
Carolyn J. Graham Chief Financial Officer & Executive Vice President
Darrell Robert Jones Chief Information Officer & Executive VP
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