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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
Matt Evans, CFA
AVP, Investor Relations
Canadian Western Bank