ATB Financial report increase in profits, revenue in Q3, year-end

EDMONTON – ATB Financial reported Wednesday a 25 per cent jump in profit to $58.3 million in its third-quarter, compared with $46.6 million for the same period a year ago.

The Alberta Crown corporation says it total operating revenue for the three month period ended Dec. 31 was $307.1 million, up from $281.1 million year over year.

Non-interest expenses were up slightly to $217.4 million from $216.3 million.

“The results show that our momentum continues, and we expect no change in that moving ahead,” said Dave Mowat, ATB’s president and CEO in a news release.

“The growth you see in our profits reflects both our knowledge of our province and the trust our customers have in us to put that knowledge to work for them.”

ATB Financial reported that net loans were up 10.3 per cent to $29.3 billion, and deposits increased 8.4 per cent to $23.8 billion in the third quarter compared with the same period in the previous year.

The corporation also reported results for the nine-month period ended Dec. 31, 2012.

It says it saw net income rise to $167.5 million from $152.9 million year-over-year.

Total operating revenue was $888.3 million, up from $830.6 million, while non-interest expenses also jumped to $644.7 million from $618.7 million from the previous year.

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 635,000 Albertans.