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Canadian Western Bank

Logo: Canadian Western Bank, Public domain, via Wikimedia Commons4

Canadian bank based in Edmonton, Alberta

Canadian Western Bank (CWB; French: Banque canadienne de l'Ouest), doing business as the CWB Financial Group, was a Canadian bank based in Edmonton, Alberta. The bank primarily operated in western Canada, although it also operated several branches in eastern Canada. The CWB was established in 1988 through the merger of the Bank of Alberta and the Western & Pacific Bank of Canada.2 Wikipedia text CC BY-SA 4.0

Last updated Oct 21, 2026.

Overview

1988Founded1
  • Industryfinancial sector1
  • HeadquartersEdmonton1
  • Founded inEdmonton1
  • Websitewww.cwbank.com
  • Legal formbusiness corporation1
  • Listed onToronto Stock Exchange1
  • LEI549300QG7XFGLKN6HL173
  • StatusInactive3
  • LEI statusRetired3
  • Registered address10303 Jasper Avenue, T5J 3X6 Edmonton, Canada3
  • Registered withMinistry of Service Alberta, 11734662033

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Canadian Western Bank (CWB; French: Banque canadienne de l'Ouest), doing business as the CWB Financial Group, was a Canadian bank based in Edmonton, Alberta. The bank primarily operated in western Canada, although it also operated several branches in eastern Canada.2

Corporate structure

Canadian Western Bank sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

  • Canadian Western Bank Edmonton, Alberta, Canada

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0). Each entity in the chart links to its source.

The story

Canadian Western Bank was formed through the 1988 merger of two banks: the Bank of Alberta (founded 1984), and the Western & Pacific Bank of Canada (founded 1982). It was led by Bank of Alberta co-founders Charles Alexander Allard and Eugene Pechet.

In 1993, it acquired Western Canadian branches of Metropolitan Trust. In 1994, Canadian Western Bank and North West Trust Company merged into Canadian Western Bank. In 1996, it acquired BC Bancorp (chartered in 1967), and purchased the Aetna Trust Company, which was renamed Canadian Western Trust Company. In 2001, it acquired the Kelowna and Regina branches of the Laurentian Bank of Canada.

It was announced on June 11, 2024, that it would be acquired by National Bank of Canada in 2025. The acquisition was completed in March 2025, with CWB rebranding under the National Bank brand.

From Wikipedia’s article on Canadian Western Bank, shared under CC BY-SA 4.0.5

Products and brands

The CWB Financial Group was made up of 10 banking, lending, wealth and trust companies. It had an expanding loan book in BC, Alberta and Ontario.

Canadian Western Bank's operating affiliates included:

Motive Financial (100% ownership) – high-interest savings accounts, GICs, and TFSAs. Before 2017, it was called Canadian Direct Financial.

Canadian Western Financial Ltd. (100% ownership) – mutual fund dealer.

Read the full text

Canadian Western Trust Company (100% ownership) – personal and corporate trust services. Optimum Mortgage is a division of Canadian Western Trust Company and offers residential mortgages via a network of mortgage brokers.

National Leasing Group Inc. (100% ownership) – commercial equipment leasing.

Valiant Trust Company (100% ownership) – specialty trust services including stock transfer, corporate trust, escrow and employee plan services.

CWB Wealth Management (previously Adroit Investment Management Ltd (76.5% ownership) – investment and wealth management.

Motive Financial

Motive Financial was the virtual banking division of Canadian Western Bank. As such, eligible deposits were held at Canadian Western Bank, a member of Canada Deposit Insurance Corporation (CDIC). Motive Financial was an online bank.

Motive served customers in all provinces except Quebec. Accounts could be opened online. Deposits and withdrawals could be made using one of the Exchange ATM network's 2400 ATMs. Debit-card purchases could be made using the Interac network. Transfers to and from other banks could be done by electronic funds transfer (EFT), by Interac e-Transfer, or by writing cheques. Because Motive offered no in-branch services, it offered higher interest rates than conventional banks.

From Wikipedia’s article on Canadian Western Bank, shared under CC BY-SA 4.0.5

Subsidiaries and ownership

Subsidiaries

From Wikidata.1

Timeline

  1. 1988Founded Founded in Edmonton1

Sources

The numbers on this page point here. Each one links to the record it came from.

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