Canadian Western Bank

Latest Results (22.11.2025):

Canadian Western Bank — quarter ended October 31, 2024 (Q4 2024): CWB Financial Group reported annual common shareholders’ net income of $268 million (diluted EPS $2.76; adjusted EPS $3.01) and quarterly common shareholders’ net income of $62 million with adjusted EPS of $0.67. Quarterly results were down versus the same quarter last year but improved sequentially; management highlighted resilient balance sheet, disciplined expense control and ongoing progress toward the planned acquisition by National Bank.

Quarterly results

Q4 2024 common shareholders’ net income: $62 million; adjusted EPS: $0.67. These declined 19% and 29%, respectively, versus Q4 2023. Pre-tax, pre-provision income was $143 million, essentially unchanged year-over-year.

Credit provisions drove year-over-year decline

Lower quarterly earnings were mainly due to a provision for credit losses on impaired loans of 38 basis points (vs. 8 bps in the prior-year quarter). On an annual basis, the provision rose ~30 bps and was the primary factor behind the year-over-year drop in net income.

Sequential improvement

Compared with the prior quarter, Q4 common shareholders’ net income rose 50% and adjusted EPS increased 12%, reflecting a 16 bps reduction in the provision for credit losses; pre-tax, pre-provision income was stable sequentially.

Full-year performance

For the year ended October 31, 2024, common shareholders’ net income was $268 million (adjusted EPS $3.01), down 17% (net income) and 16% (adjusted EPS) versus the prior year. Pre-tax, pre-provision income increased 8% and CWB reported positive operating leverage of 1.4% from revenue growth and expense management.

Dividend

The Board declared a cash dividend of $0.36 per common share — up $0.02 (6%) year-over-year and $0.01 (3%) from the prior quarter.

Strategic update

Management reiterated progress toward closing the acquisition by National Bank, noting active integration planning and confidence the combination will create value for clients, teams, communities and shareholders.

Non‑GAAP and contact

The release cites non‑GAAP measures (adjusted EPS, pre-tax pre-provision income, provision as a % of average loans, operating leverage) with definitions on pages 6–7 of the report. Investor contact: Chris Williams, AVP Investor Relations ([email protected]).