Canadian Western Bank Says Legal Claim Caused Earnings Delay

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 10 sec. here
  • 11 min. at publisher
  • 📊 Quality Score:
  • News: 38%
  • Publisher: 50%

Business News

Canada,Top Canada,Company News

Canadian Western Bank said the reason it delayed release of its fourth-quarter earnings Friday was because it received a legal claim against a subsidiary that needed “prudent investigation.”

As Canadian banks report Q4 hits and misses, portfolio manager Neela White says investors should consider keeping a mixed basket of bank stocks.

“Based on current knowledge, we do not expect the outcome of this claim to have a material effect on the consolidated financial statements,” the bank said in the statement.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 83. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Canadian Western Bank says legal claim delayed its fourth-quarter earnings releaseThe Edmonton-based bank says a legal claim against a subsidiary of CWB was received late into the process of approving and disclosing its annual financial results
Source: globeandmail - 🏆 5. / 92 Read more »

Canadian Western Bank shares tumble after delaying release of fourth-quarter earningsCWB’s change in plans has left investors speculating on whether the delay was caused by a shift in the fate of National Bank’s pending acquisition of the Edmonton-based lender
Source: globeandmail - 🏆 5. / 92 Read more »

Western Canadian business groups launch legal challenge against Ottawa’s anti-greenwashing rulesThe plaintiffs say provisions put in place earlier this year under Bill C-59 are a ‘significant breach of freedom of expression’
Source: globeandmail - 🏆 5. / 92 Read more »