ATB Financial

Infobox_Company
company_name = ATB Financial
company_
company_type = Crown Corporation
foundation = 1938
location = Edmonton, Alberta| key_people =
industry = Financial services
products = Financial services, Wealth Management
revenue = profit 751.5 million CAD (2007)
num_employees = 4,100
homepage = http://www.atb.com

Alberta Treasury Branches, also known as ATB Financial, is a full service financial institution and crown corporation owned by the Government of Alberta and based in Edmonton, Alberta. ATB operates in Alberta only, providing financial services to over 600,000 people. ATB has 157 branches as well as 134 agencies, serving a total of 244 communities in Alberta. Wealth management services are offered under the name ATB Investor Services or ATBIS. ATB has more than 4,100 employees. Head offices are in Edmonton, Alberta, Canada. With assets of C$20.3 billion, ATB is the largest Alberta-based financial institution.

ATB is not a chartered bank, and unlike other banks operating in Canada, ATB is regulated entirely by the Government of Alberta, under the authority of the Alberta Treasury Branches Act, Chapter A-37.9, 1997, and Treasury Branches Regulation 187/97. The legislation is modeled on the statutes and regulations governing other financial institutions and other guidelines to financial institutions issued by the federal Office of the Superintendent of Financial Institutions and the Canada Deposit Insurance Corporation. ATB Financial is one of fifteen financial institutions that participates in Canada's Large Value Transfer System.

ATB was created by the first Social Credit ministry under William Aberhart in 1938, after earlier attempts to place Alberta's banks under the provincial government's control were thwarted by the federal government. The first Alberta Treasury Branch was opened in Rocky Mountain House on September 29 of that year. ATB is the most significant surviving remnant of social credit economic policies in Alberta.

In the 1990s, the government reformed ATB with the intention of transforming it into a competitive financial institution. In October 1997, ATB formally became a provincial crown corporation. Since then, it has operated under a board of directors appointed by the Lieutenant-Governor of Alberta. It adopted the moniker "ATB Financial" in January 2002.

As of March 31, 2007, ATB reported assets of $20.3 billion, deposits of $18.3 billion, loans of $17 billion, equity of $1.62 billion, and a net income of $274.3 million.

ATB's community investment program includes sponsorships, donations, associate volunteerism, community contributions, and corporate fundraising programs.

External links

* [http://www.atb.com ATB Financial]
* [http://www.canada.com/edmontonjournal/news/business/story.html?id=594507f7-285f-4116-bd80-55697c3f1894 "ATB faces new reality" Edmonton Journal December 22, 2007]