ATB Financial reports second-quarter profit up

ATB Financial reported Wednesday a second-quarter profit of $43.1 million, up from a year ago, boosted by double-digit loan growth in the face of tighter margins.

EDMONTON — ATB Financial reported Wednesday a second-quarter profit of $43.1 million, up from a year ago, boosted by double-digit loan growth in the face of tighter margins.

The Alberta Crown corporation said the profit for the quarter ended Sept. 30 compared with a profit of $5.7 million a year ago when the company took a $55.5-million charge related to asset-backed commercial paper.

Operating revenue totalled $223.7 million, up from $169.6 million in operating revenue a year ago.

ATB’s allowance for credit losses improved to $10.3 million compared with $13.9 million a year ago.

ATB Financial provides personal and business financial services.

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