CWB Reports Third Quarter 2024 Performance

Strong Growth in Key Business Lines

CWB Financial Group (CWB) reported strong financial performance in the third quarter of 2024, driven by growth in key business lines.

Net income increased by 12% year-over-year, reaching $126 million. This growth was driven by a combination of factors, including:

• Increased lending volumes in both commercial and personal banking
• Higher net interest margins
• Strong fee income growth

Key Highlights

Some key highlights from CWB's third quarter 2024 performance include:

• Total loans and other receivables increased by 7% to $49.8 billion
• Total deposits increased by 5% to $59.2 billion
• Net interest income increased by 10% to $241 million
• Non-interest income increased by 8% to $123 million
• Provision for credit losses decreased by 25% to $19 million

CWB's strong performance in the third quarter of 2024 is a testament to the company's commitment to delivering value to its stakeholders. The company's diversified business model and focus on customer service have positioned it well for continued growth in the future.

Outlook

CWB remains optimistic about the future and expects to continue to grow its business in the coming quarters. The company's key priorities include:

• Continuing to grow its core lending business
• Expanding its wealth management and insurance offerings
• Improving its digital capabilities

CWB believes that these initiatives will position it well to continue to deliver strong financial performance and create value for its stakeholders.