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Research Capital to distribute Pacific &; Western Bank GICs

^{Published on 2009-08-27 10:51:19 - Market Wire}
 

 LONDON, ON, Aug. 27 /CNW/ - B Pacific & Western Credit Corp. (TSX:PWC) today announced that Research Capital has signed an agreement to distribute the GICs of PWC's wholly owned subsidiary, Pacific & Western Bank of Canada (PWBank). Research Capital is one of Canada's leading independent Investment Dealers. Based in Toronto and with offices in Calgary, Regina, Montreal and Vancouver, Research Capital provides tailored financial solutions for investors and small to mid cap companies. David Taylor, President and Chief Executive Officer, stated, "Research Capital is a welcome addition to our growing network of deposit agents and we look forward to the opportunity to offer our deposit products to Research Capital's customers. This relationship furthers our corporate strategy to diversify and expand our deposit base." PWBank, a Schedule I chartered bank, is a branchless financial institution with approximately $1.6 billion in assets. PWBank specializes in providing innovative financing to large corporate and government entities including hospitals, school boards, universities and colleges, municipalities and provincial and federal government agencies. With no retail operations or store fronts, PWBank is one of the most efficiently operating financial institutions in Canada. These overhead savings translate into very competitive rates for our clients. Pacific & Western Bank of Canada is wholly owned by Pacific & Western Credit Corp., whose shares trade on the TSX under the symbol PWC. To receive company news releases, please contact: Carla McPhee at [ carlam@pwbank.com ], (519) 675-4204

For further information: Investor Relations: Wade MacBain at (800) 244-1509 or [ InvestorRelations@pwbank.com ]; Visit our website at: [ http://www.pwbank.com ]