Canada's CWB edges up on Q4 revenue beat, confirms National Bank deal on track

Canadian Western Bank

18/12/2024 15:56

** Lender Canadian Western Bank's  CWB.TO  shares rise 0.6% to
C$57.09
    ** Company reports Q4 revenue of C$309.5 mln ($216.1 mln)
beating estimates of C$304.1 mln, according to data compiled by
LSEG
** Earlier this year, National Bank of Canada  NA.TO  agreed to
buy CWB in a deal valued at C$5 bln
    ** "We remain on track to complete the acquisition with
National Bank" - CWB CEO Chris Fowler
    ** Deal had received approvals from shareholders and the
country's competition watchdog in September; it is now awaiting
the nod of the Office of the Superintendent of Financial
Institutions (OSFI) and the minister of finance
    ** CWB reports Q4 adj EPS of 67 Canadian cents, missing
estimates of 94 Canadian cents 
    ** Including session moves, stock up ~85% YTD
     
    ($1 = 1.4322 Canadian dollars)

(Reporting by Manya Saini in Bengaluru)
((Manya.Saini@thomsonreuters.com))