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Bank of Alberta
Founded1984
Founder
Defunct1988
FateMerged with Western & Pacific Bank
Successor Canadian Western Bank
Headquarters
Edmonton, Alberta
,

The Bank of Alberta was a bank based in Edmonton, Alberta, Canada from 1984 to 1988. [1] It was formed during a challenging economic environment[ vague] that pushed many competitors to rein in their activities in key western markets. [1] As a result, the bank ultimately had a significant impact on the evolution of modern banking in Western Canada. [2]

History

When the bank commenced operations in 1984 it was led by Canadian Business Hall of Fame member Dr. Charles Allard [1] [3] and Eugene Pechet, [1] [3] [4] starting with three employees working out of a boardroom located in one of Pechet's hotels in Edmonton, Alberta. [4] The Government of Alberta supported the newly formed Bank of Alberta by investing in 5% of its shares. [5]

In 1988, the Bank of Alberta merged with Western & Pacific Bank to form Canadian Western Bank (CWB). [1]

See also

References

  1. ^ a b c d e "About Us: Our Story". Canadian Western Bank Group. Retrieved 10 November 2015.
  2. ^ Dale Orr (1974). "The Economic Determinants of Entry into Canadian Banking: 1963-7". The Canadian Journal of Economics. 7 (1): 82–99. doi: 10.2307/134216. JSTOR  134216.
  3. ^ a b "Canadian Western Bank celebrates 20th birthday". Investment Executive. March 22, 2004. Retrieved 10 November 2015.
  4. ^ a b "Canadian Western Bank Group, Annual Report 2008, Page 20" (PDF). Canadian Western Bank Group Corporate Website. Canadian Western Bank Group. Retrieved 10 November 2015.
  5. ^ "Reports on Legislative Activities" (PDF). Canadian Parliamentary Review. 7 (3). Autumn 1984.