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CWB reports fourth quarter and full year 2024 financial performance

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CWB Financial Group (TSX: CWB) (CWB) today announced financial performance for the year ended October 31, 2024, with annual common shareholders' net income of $268 million, diluted earnings per common share (EPS) of $2.
The article from Yahoo Finance Canada discusses Canadian Western Bank's (CWB) financial performance for the fourth quarter and the full year ending October 31, 2023. CWB reported a fourth-quarter profit of $77.5 million, or 81 cents per diluted share, down from $94.3 million, or $1.01 per share, in the same quarter of the previous year. For the full year, the bank's profit was $319.2 million, or $3.37 per diluted share, compared to $334.4 million, or $3.62 per share, in the prior year. Despite the decrease in profit, CWB highlighted growth in its loan portfolio, with total loans increasing by 8% year-over-year. The bank also noted an increase in its provision for credit losses due to economic uncertainties. CWB's CEO, Chris Fowler, expressed confidence in the bank's strategic direction, focusing on enhancing client relationships and operational efficiency to drive future growth.

Read the Full Yahoo Finance Article at:
[ https://ca.finance.yahoo.com/news/cwb-reports-fourth-quarter-full-120000164.html ]