CBWBF - Canadian Western Bank Non-GAAP EPS of C$0.84 revenue of C$258.76M; issues FY22 guidance

Canadian Western Bank press release (OTCPK:CBWBF): FQ2 Non-GAAP EPS of C$0.84. Revenue of C$258.76M (+4.7% Y/Y). Compared to the same quarter last year, return on common shareholders’ equity of 10.0% and adjusted ROE of 10.3% decreased 60 basis points and 50 basis points, respectively. Compared to last quarter, ROE and adjusted ROE decreased 160 basis points and 150 basis points, respectively. Outlook: We expect that fiscal 2022 annual diluted earnings per share will be lower than fiscal 2021 by a percentage in the low- to mid-single digits based on the assumptions described above. Based on the current economic outlook, we expect an increase in gross impaired loans, which are currently well below pre-COVID-19 levels, and a return of the provision for credit losses on impaired loans to within our normal historical range of 18 to 23 basis points over the remainder of the year. Our revised expectation is for the policy

For further details see:

Canadian Western Bank Non-GAAP EPS of C$0.84, revenue of C$258.76M; issues FY22 guidance