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    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 EDT

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 2021 1 012 M 814 M 814 M
Net income 2021 296 M 238 M 238 M
Net Debt 2021 - - -
P/E ratio 2021 10,3x
Yield 2021 3,34%
Capitalization 3 027 M 2 427 M 2 437 M
Capi. / Sales 2021 2,99x
Capi. / Sales 2022 2,82x
Nbr of Employees 2 516
Free-Float 97,4%
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 40,04 CAD
Last Close Price 34,73 CAD
Spread / Highest target 23,8%
Spread / Average Target 15,3%
Spread / Lowest Target -7,86%
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Managers and Directors
NameTitle
Christopher H. Fowler President, CEO & Non-Independent Director
R. Matthew Rudd Chief Financial Officer & Executive Vice President
Robert Lawrence Phillips Chairman
Darrell Robert Jones Chief Information Officer & Executive VP
Vladimir Ahmad Senior Vice President-Operations & Transformation
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