DBRS rates Canadian Western Bank A(low)

DBRS said it assigned Canadian Western Bank a deposits and senior debt rating of A(low) and a subordinated debt rating of BBB(high).

The trend is stable.

The bank's most important strengths are its strong asset quality as evidenced by its long history of low charge-off rates, its proven niche strategy using relationship based lending, low cost base and strong capital and internal capital generation, DBRS said.

Material improvements have been made over several years in terms of funding diversification, the agency added.

Concentration issues in the loan book remain both geographically (Alberta and British Columbia) and by industry (commercial and construction and real estate lending), DBRS said.

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