The 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
Canadian Western Bank said that it postponed the release of its fourth-quarter earnings Friday due to a recent legal claim against one of its subsidiaries that required “prudent investigation.”in Toronto on Friday after the lender abruptly postponed its earnings release without explanation. The sudden nature of the change prompted widespread speculation among investors that it was related to National Bank of Canada ’s deal to acquired CWB.
The Edmonton-based bank said that a legal claim against CWB Maxium Financial Ltd. , a subsidiary of CWB, was received late into the process of approving and disclosing its annual financial results. The final step will be for Finance Minister Chrystia Freeland to green-light the deal. Ferreira added that he expects the deal to close in early 2025.
Canada News Breaking News Video Canadian Breaking News Breaking News Globe And Mail Breaking News Globe And Mail Canada News Photos World News Local News National News Us News Foreign News Sports News Arts News Life News Lifestyle Canada Traffic Canada Weather Trudeau Government Federal Government Canada Sports Canada Sports News Politics Politics News Political News Political Opinion Environment Economy Technology Education Travel Canada Alberta Bc British Columbia Manitoba Ontario Quebec Nova Scotia Pei New Brunswick Newfoundland And Labrador Nunavut Northwest Territories Yukon Globe And Mail
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
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
Read more »
Canadian Western Bank Plunges as Results Delayed With No ExplanationCanadian Western Bank shares sank after the firm delayed its fiscal fourth-quarter earnings release Friday morning and left investors guessing why.
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’
Read more »
Can populist energy be constructively harnessed for productive purposes?The history of Western Canadian politics tells us that it can
Read more »
Canadian Leaders Express Concern Over Trump's Proposed Tar on Canadian GoodsCanadian business and political leaders are voicing concerns about Donald Trump's pledge to impose a 25-per-cent tariff on all Canadian goods coming into the United States. They argue that such tariffs would harm businesses on both sides of the border and weaken North America's economic and geopolitical strength.
Read more »
'It's a heavy hit': Canadian travellers cope with weak Canadian dollarDespite rebounding on Wednesday, the Canadian dollar continues to face pressure after U.S. president-elect Donald Trump threatened to impose a 25 per cent tariff on all Canadian imports.
Read more »