Canadian Western Bank (TSX:CWB)

Financial

Canadian Western Bank is a commercial banking institution that provides specialized financial services. The Schedule 1 chartered bank offers services such as personal loans, project financing, commercial real estate financing, equipment financing and leasing, construction financing and wealth management.

Headquartered in Edmonton, Canada, the bank was formed after a merger between the Western & Pacific Bank of Canada (established in 1982) and Bank of Alberta (established in 1984).

The bank is said to have about 18 branches in British Columbia, 17 branches in Alberta, two branches in Manitoba and four branches in Saskatchewan.

The bank operates via a platform of companies under four segments:

Banking
• Canadian Western Bank
• Motive Financial

Lending
• CWB Equipment Financing
• CWB Optimum Mortgage
• CWB Franchise Finance
• CWB National Leasing
• CWB Maximum Financial

Wealth
• CWB Wealth Management
• CWB Mc Lean & Partners
• T.E. Wealth
• Canadian Western Financial
• Leon Frazer & Associates

Trust
• CWB Trust Services

The bank also provides personal banking services such as loans, mortgages, investment products, credit cards, checking and saving accounts etc. The Canadian bank also offers financial solutions to small and medium-scale businesses and manages assets above C$ 29 billion.

It provides cash management tools to manage payables and receivables, products and solutions to improve cash flow and online banking services. The bank also offers customized foreign exchange solutions for businesses, risk-management options, and hedging tools, including forward contracts, vanilla options and structured options.

The financial institution claims to be a signatory to UN Women’s Empowerment Principles and aims to promote its commitment towards gender equality and inclusion.

The bank has reportedly been ranked among the 50 Best Workplaces in Canada.

Amid the COVID-19 pandemic, the bank launched a financial assistance program, #CWBhasyourback, to support affected business owners.

Canadian Western Bank aims to become a full-service bank in the next three years by providing financial services for business banking, wealth management and personal banking services.

The customer can find a nearby branch or ATM on the official website.