BRIEF-CWB updates credit outlook for second quarter 2016

Tue May 3, 2016 7:26am EDT
 
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May 3 (Reuters) - Canadian Western Bank

* CWB updates credit outlook for second quarter 2016

* CWB now expects consolidated Q2 provision for credit losses to be approximately $40 million

* Provisions for credit losses on O&G production portfolio for Q2 reflect weak oil price environment, borrowing base redeterminations

* Recorded about $33 million of Q2 provisions for credit losses on oil and gas production portfolio Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)