Posted AT 3:16 AM EST on 05/09/08
Canadian Western hit as resources dip
The commodities boom in Alberta and British Columbia helped Canadian Western Bank ride out the financial crisis over the last year, but now, as resource prices sag, tight credit conditions are catching up with the regional lender.
The bank reported a 10-per-cent increase in profit yesterday, another strong showing at a time when most banks' profits are dropping. Profit in the fiscal third quarter ended July 31 was $26.
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