Canadian Western Bank


Canadian Western Bank, also operating as CWB Financial Group, is a Canadian bank and financial services company based in Edmonton, Alberta. The bank serves personal and commercial clients in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec

HistoryCWB Archives

Canadian Western Bank was formed through the 1988 merger of the Bank of Alberta and Western & Pacific Bank of Canada. It was led by Bank of Alberta co-founders Charles Alexander Allard and Eugene Pechet. Allard and Pechet had formed the Bank of Alberta when the pair grew impatient with the eastern banks’ lending routine at the time. Long banking cycles and a lack of knowledge about the unique challenges and opportunities in Western Canada stymied entrepreneurs, opening the door for Allard and Pechet’s made-in-Alberta financial institution.

Today

Today, CWB has expanded to become CWB Financial Group, which comprises 10 specialized banking, lending, wealth and trust companies that focus on serving small- and medium-sized business owners as well as personal clients. They have a growing national presence found in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec. Its loan book is almost equally represented across BC, Alberta and Ontario. Diversification of CWB’s business lines has been a strategic priority. The bank will open its first branch in Mississauga, Ontario, a sign that CWB is poised to challenge for market share in Canada’s most populous province.
CWB is conservatively capitalized. It maintains a larger regulatory capital cushion, and ensures a strong balance sheet to guard against challenging economic times.

TimelineCWB Archives

Canadian Western Bank is a member of the Canada Deposit Insurance Corporation and the Canadian Bankers Association. It also a member of the Cirrus, Interac, Mastercard, and The Exchange interbank networks.