Canadian Western Bank: Q3 Earnings and Upcoming Acquisition

Canadian Western Bank (TSE:CWB) has released an update.

Canadian Western Bank (CWB) reported a $41 million net income for Q3 2024, with a significant increase in provisions for credit losses on impaired loans, impacting this quarter negatively. Despite a decline in net income and diluted EPS by 50% from the previous year, the bank remains optimistic about future growth and has declared a cash dividend increase. Additionally, CWB is poised to be acquired by National Bank of Canada, which is expected to enhance services and offerings to customers pending approvals.

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