Canadian Western Bank (TSE:CWB) has released an update.
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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.
For further insights into TSE:CWB stock, check out TipRanks’ Stock Analysis page.