* Q3 EPS C$0.38 vs C$0.41
* Net income rises 9 percent on strong loan growth
* Exceeds analysts’ estimates
TORONTO, Sept 3 (Reuters) - Canadian Western Bank (CWB.TO) said on Thursday its quarterly profit rose 9 percent as solid loan growth offset lower net interest margins.
Edmonton, Alberta-based CWB reported net income of C$28.7 million ($26.1 million), or 38 Canadian cents a share, for the second quarter that ended July 31. That’s up from C$26.3 million, or 41 Canadian cents a share, a year earlier.
The regional bank issued preferred shares in March, which diluted the per share earnings.
Analysts were expecting earnings of 32 Canadian cents a share, according to Reuters Estimates.
CWB said total loans increased 12 percent from a year ago, while net interest margin was 12 basis points lower.
Tier I capital rose to 11.2 percent, and the quarterly dividend was unchanged 11 Canadian cents a share.
CWB offers personal and commercial banking in Canada’s western provinces of Manitoba, Saskatchewan, Alberta and British Columbia.
Reporting by Andrea Hopkins