CWB Completes Acquisition of the Maxium Group of Companies

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

CWB Completes Acquisition of the Maxium Group of Companies

EDMONTON, ALBERTA--(Marketwired - Mar 1, 2016) - Canadian Western Bank Group (TSX:CWB) (CWB Group or CWB) today completed its previously announced acquisition of the business of Maxium Financial Services Inc. and Desante Financial Services Inc., now collectively represented as CWB Maxium Financial Inc. (CWB Maxium).

CWB Maxium provides loans, equipment leases and structured financing solutions to more than 35,000 clients, with the majority of business sourced in Ontario. Specialized financing solutions are primarily provided in areas of healthcare, golf, transportation, real estate, and general corporate financing. The addition of CWB Maxium to the CWB Group immediately enhances capabilities and capacity to accelerate the expansion of CWB's geographic footprint. It will also broaden CWB's business mix within desired specialized finance markets while providing new cross-selling opportunities. The combination of CWB Maxium's strong originations, yields and credit performance with CWB's position as a Schedule 1 bank is expected to provide significant synergies over time.

CWB will release its first quarter 2016 financial results, including Management's Discussion and Analysis, on March 3, 2016. CWB's quarterly conference call and live audio webcast will take place on March 3, 2016 at 1:30 p.m. ET (11:30 a.m. MT). Related details are available in the Investor Relations section of CWB's website at www.cwb.com.

About CWB Group

CWB Group (CWB) is a diversified financial services organization serving businesses and individuals across Canada. Operating from its headquarters in Edmonton, Alberta, CWB's key business lines include full-service business and personal banking offered through 41 branches of Canadian Western Bank and Internet banking services provided by Canadian Direct Financial (CDF). Highly responsive specialized financing is delivered under the banners of CWB Equipment Financing, National Leasing, CWB Maxium Financial and CWB Optimum Mortgage. Trust Services are offered through Canadian Western Trust. Comprehensive wealth management offerings are provided through CWB Wealth Management, which includes the businesses of Adroit Investment Management, McLean & Partners Wealth Management and Canadian Western Financial. As a public company on the Toronto Stock Exchange (TSX), CWB trades under the symbols "CWB" (common shares) and "CWB.PR.B" (Series 5 Preferred Shares). Learn more at www.cwb.com.

Kirby Hill, CFA
Vice President, Strategy & Communications
Canadian Western Bank
(780) 441-3770
[email protected]
Matt Evans, CFA
AVP, Investor Relations
Canadian Western Bank
(780) 969-8337
[email protected]

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).