ALBERTA

ATB Financial reports 25 per cent increase in net income for the year

05/29/2013 03:46 EDT | Updated 07/29/2013 05:12 EDT
EDMOTNON, Alta. - ATB Financial earned a profit of $244.8 million for its latest financial year , an increase of 25 per cent from $195.1 million the year before.

The Alberta Crown corporation says operating revenues were $1.2 billion for the year ended March 31, 2013, up from 1.1 billion last year.

Non-interest expenses were up slightly to $865.9 million from $843.6 million.

Net loans were up 11 per cent from the previous year to $29.7 billion, while total personal and business deposits were $23.7 billion, an increase of 6.8 per cent.

Provisions for credit losses were $45.9 million, compared to $23.3 million a year ago, in what the company says it views as a return to a more traditional figure for that category.

ATB Financial is the largest Alberta-based financial institution with assets of $33 billion. It provides retail, agriculture and business financial services as well as investor services to more than 654,000 Albertans.

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