ATB Financial, a leading financial institution in Alberta, has announced strong first-quarter results for fiscal year 2025, showcasing significant growth in loans and deposits. The company reported total revenue of $534 million for the quarter ending June 30, 2024, representing a 7.2% increase compared to the same period last year. This growth was primarily driven by a 7.9% year-over-year increase in loans, reflecting ATB’s unwavering commitment to supporting the Alberta economy. Net loans reached $51.8 billion by the end of the quarter.
Total deposits also experienced a notable rise, increasing by 4.4% compared to the previous year, reaching $42.1 billion. While net income for the quarter was $105.0 million, a decrease from the previous year, this was attributed to strategic investments in personnel and technology to support future business growth. This decrease was partially offset by strong growth in other income, reaching $181.2 million, a 9.0% increase year-over-year, driven by ATB’s expanding advisory services for business clients.
In addition to its strong financial performance, ATB Financial demonstrated its commitment to supporting Alberta by paying its first-ever dividend of $25.0 million this quarter. This follows their February 2024 announcement of ATB’s ability to declare $100.0 million in total quarterly dividends to its shareholder, the Alberta Government, for fiscal year 2025.
Curtis Stange, President and CEO of ATB Financial, stated, “ATB Financial serves as a catalyst for growth in Alberta by offering expert advice and personalized solutions to nearly 820,000 clients. With a solid balance sheet and a net loan portfolio nearing $52 billion—an increase of almost $4 billion from last year—ATB is one of the strongest regional banks in the industry.”
Beyond its financial performance, ATB Financial continues to demonstrate its dedication to its clients and communities. In the face of recent wildfires, ATB and its team members donated over $75,000 to the Unite for Wildfire Response and Recovery fund established by the United Way. The company also donated over $300,000 to charities across the province, including the Woodland Cree First Nations “Reader in Residence Program” and the Edmonton Food Bank for their Brown Bag Campaign.
ATB Financial’s strong financial performance and dedication to community engagement highlight its position as a leading financial institution in Alberta. The company’s commitment to providing exceptional experiences to its clients and supporting the province’s economic growth ensures its continued success and relevance in the Canadian financial landscape.
