CWB Financial Group reports Q4 profit and revenue up from year ago

EDMONTON – CWB Financial Group reported a profit of $64.5 million in its latest quarter, up from $60.8 million a year ago.

The Edmonton-based bank says the profit amounted to 72 cents per diluted share for the three months ended Oct. 31, up from 68 cents per diluted share a year ago.

Revenue in what was CWB’s fourth quarter totalled $208.6 million, up from $195.1 million.

On an adjusted cash basis, CWB says it earned 78 cents per share for the quarter, up from 74 cents per share in the same quarter last year.

Analysts on average had expected a profit of 77 cents per share, according to Thomson Reuters Eikon.

For its full year, CWB says it earned $249.3 million or $2.79 per diluted share on $803.4 million in revenue. That compared with a profit of $214.3 million or $2.42 per diluted share on $726.6 million in revenue the previous year.

Companies in this story: (TSX:CWB)