Dec 1 Canadian Western Bank reported a
9.7 percent fall in its fourth-quarter earnings as low commodity
prices weighed on its oil and gas loan portfolio.
The company, which mainly lends to clients in the western
provinces of Canada, including oil-rich Alberta, said its total
allowance for credit losses increased almost 10 percent to
C$103.8 million (about $77 million) in the quarter ended Oct.
The bank's net income attributable to shareholders fell to
C$47.8 million, or 54 Canadian cents per share, from C$53
million, or 66 Canadian cents per share, a year earlier.
A nearly 55 percent drop in oil prices since mid-2014 has
forced banks to cut credit lines for oil and gas companies.
($1 = C$1.3404)
(Reporting by Vishaka George in Bengaluru; Editing by Savio