1 Min Read
TORONTO, Sept 2 (Reuters) - Canadian Western Bank (CWB.TO) said on Friday its quarterly profit fell from a year earlier, due to a one-time income tax recovery gain that was recognized in the year-ago period.
Net income in the most recent quarter was C$44.7 million, down 4 percent from a year-ago, while earnings were 52 Canadian cents a share, down 12 percent from a year-ago.
The large decrease in earnings per share also reflects a greater number of shares outstanding in the latest quarter, the bank said in a release that also highlighted strong loan growth and a further improvement in overall credit quality. (Reporting by Euan Rocha; editing by Janet Guttsman)