ATB Financial reports 82% net income increase, growth in AUA [Advisor.ca (Canada)]
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Source: Advisor.ca
For the fiscal year ending March 31, ATB Financial has reported a net income increase of 82%, from $150.8 million to $274.6 million. In a release, ATB also reports its “highest ever” operating income, and highest operating revenue in a single quarter and year. For the year, loans were up 8.1% to $44.1 billion, but deposits decreased 3.7% to $32.7 billion. The institution posted growth in multiple business units, including r etail financial services. That area of the business “ turned a corner,” the release says, with net income of $12.3 million after posting a loss the previous year. ATB investor services concluded the year with assets under administration of $18.7 billion, up $1.9 billion from a year earlier. In the release, president and CEO Dave Mowat credits e conomic improvements in Alberta as one reason for ATB’s growth. He also says there was no reduction in client service or staffing . Further, “We increased loans—even when t
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