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ATB Financial achieves steady performance in its second-quarter results

Press Release

18 November 2022

Edmonton—ATB Financial’s second-quarter (Q2) results for the period ending September 30, 2022 demonstrate sustained growth while navigating a complex economic environment.

ATB Financial continues to deliver solid financial performance in Q2, with total revenue rising to $483.8 million (up 3.7 per cent from last year). The increase in revenue was driven by higher net interest income that was partially offset by lower other income. ATB’s quarterly net income was $100.1 million (down 27.9 per cent from last year). The decrease of net income was driven by a higher provision for loan losses totaling $27.3 million partially offset by higher total revenue.

“Overall, our financial results are positive and reflective of our current macroeconomic environment,” said Curtis Stange, President and CEO, ATB Financial. “As our clients continue to feel the impacts of high inflation, rising interest rates and geopolitical events, our team members are working diligently to provide the advice and products needed to guide our clients to a brighter future.”

In Q2, ATB Financial provided nearly $6.4 billion in new and renewed loans to Albertans and Alberta businesses (up 13.5 per cent from last year). The majority of this growth came from the Energy sector and there was growth in Real Estate, Agriculture and ATB’s mortgage portfolio.

“Looking forward, while we are experiencing the same economic turbulence as the rest of the world, we can be more optimistic for the future with our province expected to be one of the leaders, in terms of GDP growth, for the country next year,” said Stange. “After recently visiting clients and team members throughout the province, I’ve seen first-hand their resilience and innovation and I am inspired by the possibilities that lie ahead.”

Also this quarter, ATB Financial continued its support of the Alberta Indigenous community and was a proud partner of Willow Lake Métis Nation in facilitating the purchase of 205 acres of land. The deal’s financing was supported through the community’s equity ownership in the Northern Courier Pipeline, which ATB Capital Markets completed. In addition, ATB finalized a landmark deal, valued at $1.12 billion, between 23 Indigenous communities where ATB provided a $250 million government backed loan (one of its largest) with the Alberta Indigenous Opportunities Corporation.

See ATB Financial’s full second-quarter results here.

Q2 Highlights

  • Women in Capital Markets recognized three ATB team members with Emerging Leaders Awards for their commitment to accelerating equity, diversity and inclusion in the finance industry. Further demonstrating excellence and expertise among wealth professionals across Canada, a team member in ATB Wealth earned the top score in the Certified Financial Planner® exam and a place on the FP Canada distinguished President’s List.
  • Leaders from across the Edmonton region attended the YEG Forward Slash summit, in partnership with ATB Financial, to discuss the community’s economic future and highlight the opportunities in high growth and high impact sectors.
  • ATB Capital Markets held its annual Fall Canadian Energy Conference, returning to New York City. The conference included conversations with institutional investors and energy producers to discuss investment opportunities in Canada’s energy sector, as well as the industry’s role in global energy security.
  • ATB Financial partnered with Willful o offer clients and Albertans a convenient and affordable way to create a will, power of attorney or personal directive.
  • In partnership with the United Way of Alberta Capital Region, ATB helped provide technology to students in need throughout the province. With a second donation of $100,000, ATB was able to facilitate the purchase and distribution of 424 Chromebook laptops to students at 31 schools across Alberta.
  • ATB Financial continues to help equip young Albertans with the skills they need to be part of, and support, a strong Alberta economy. This quarter, ATB partnered with Mindfuel, an education technology leader focused on bringing STEM (science, technology, engineering and math) to life, both inside and outside the K-12 classroom.
  • Hosted by Olds College, ATB Financial sponsored #AgSmart22, where primary producers and innovators in the AgTech industry were brought together to discuss how a resilient future for Alberta and Canadian agribusinesses can be built.
  • ATB Financial was a proud community sponsor of the Edmonton International Fringe Festival and the Calgary Folk Music Festival.

About ATB Financial

With $59.1 billion in assets, ATB Financial is an Alberta-built financial institution that is a catalyst for economic growth in our province. We got started in 1938 to help Albertans through tough economic times. Today, ATB Financial’s more than 5,000 team members love to deliver exceptional experiences to over 800,000 clients through our many branches and agencies, our 24-hour Client Care Centre, four entrepreneur centres, and our digital banking options. ATB powers possibilities for our clients, Alberta and beyond

For more information or interview requests, please contact:
ATB Financial, Media Relations Team [email protected]

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