The Bank of Alberta was a bank based in Edmonton, Alberta, Canada from 1984 to 1988.[1] It was formed during the early 1980s recession in Canada, a challenging economic environment 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]
| Founded | 1984 |
|---|---|
| Founder | |
| Defunct | 1988 |
| Fate | Merged with Western & Pacific Bank |
| Successor | Canadian Western Bank |
| Headquarters | Edmonton, Alberta , |
History
editWhen 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
editReferences
edit- ^ a b c d e "About Us: Our Story". Canadian Western Bank Group. Retrieved 10 November 2015.
- ^ 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.
- ^ a b "Canadian Western Bank celebrates 20th birthday". Investment Executive. March 22, 2004. Retrieved 10 November 2015.
- ^ 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.
- ^ "Reports on Legislative Activities" (PDF). Canadian Parliamentary Review. 7 (3). Autumn 1984.