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PACIFIC &; WESTERN BANK AND BDO CANADA LIMITED DEVELOPING CUSTOM BANKING SOFTWARE FOR TRUSTEES IN BANKRUPTCY

^{Published on 2011-06-13 06:50:25 - Market Wire}
 

LONDON, ON, June 13, 2011 /CNW/ - Pacific & Western Credit Corp. (TSX:PWC) is pleased to announce that its subsidiary Pacific & Western Bank of Canada is working in collaboration with BDO Canada Limited in developing custom banking software. This new software solution will provide BDO Canada Limited with a more efficient banking interface for their insolvency and restructuring practice professionals.  It will deliver smoother, automated banking transactions, substantial cost savings as well as significant operational efficiencies. Following testing and piloting of the software and banking services, it will be made available industry-wide.

David Taylor, President & C.E.O. of Pacific & Western stated, "I am very pleased to be working with one of the industry's leaders to develop and pilot a custom banking software solution, which will help them to more seamlessly and efficiently conduct their banking. With this initiative and our previously announced agreement with Royal Bank to provide cheque clearing and EFT services, Pacific & Western Bank is well positioned to become the 'bank of choice' for bankruptcy trustees."

Pacific & Western Bank of Canada is wholly owned by Pacific & Western Credit Corp., whose shares trade on the TSX under the symbol PWC.

BDO Canada Limited is an affiliate of BDO Canada LLP. BDO is the fifth largest single national accounting and advisory partnership in Canada with 95 offices nationwide.

Investor Relations: Wade MacBain, Director (800) 244-1509, [ wadem@pwbank.com ];
Public Relations & Media: Tel Matrundola, Vice-President, (866) 787-9936, [ telm@pwbank.com ]

To receive company news releases, please contact:
Wade MacBain, Director (800) 244-1509, [ wadem@pwbank.com ].