Edmonton-based Canadian Western BankThe Globe and Mail
Canadian Western Bank had $44.4-million of profit in its fiscal second quarter, a 17-per-cent increase from the year-earlier period.
The Edmonton-based bank attributed the increase to a combination of loan growth, higher investment income and lower provisions for credit losses.
Earnings per diluted share rose to 53 cents from 47 cents.
Revenue increased by 10 per cent to $121.8-million in the three months ended April 30, from $111-million in the second quarter of fiscal 2010.
"Overall credit quality continued to improve and we expect this positive trend will be maintained as the economy strengthens further," said Larry Pollock, Canadian Western's president and CEO.