Financial Highlights
“As we forge ahead, ATB looks to be more than just Alberta’s bank of choice, driving innovation and transforming experiences to make it possible for all Albertans.”
| For the year ended March 31 | 2022 | 2021 |
|---|---|---|
| Operating results ($ in thousands) | ||
| Net interest income | $ 1,242,315 | $ 1,178,567 |
| Other income | 661,566 | 599,380 |
| Total revenue | 1,903,881 | 1,777,947 |
| (Recovery of) provision for loan losses | (203,879) | 271,085 |
| Non-interest expenses | 1,346,228 | 1,233,453 |
| Net income before payment in lieu of tax | 761,532 | 273,409 |
| Payment in lieu of tax | 175,152 | 62,884 |
| Net income | $ 586,380 | $ 210,525 |
| Adjusted net income (1) | $ 614,995 | $ 210,525 |
| Income before provisions (2) | ||
| Total revenue | $1,903,881 | $1,777,947 |
| Less: non-interest expenses | (1,346,228) | (1,233,453) |
| Income before provisions | $557,653 | $544,494 |
| Financial position ($ in thousands) | ||
| Net loans | $ 45,928,704 | $ 44,597,222 |
| Total assets | 57,052,035 | 55,755,035 |
| Total risk-weighted assets (2) | 37,462,503 | 36,487,057 |
| Total deposits | 37,319,482 | 37,758,388 |
| Equity | 4,452,194 | 4,074,923 |
| Key performance measures (%) | ||
| Return on average assets | 1.0 | 0.4 |
| Return on average risk-weighted assets | 1.6 | 0.6 |
| Total revenue change | 7.1 | 3.0 |
| Other income to total revenue | 34.7 | 33.7 |
| Total expense change | 9.1 | 2.1 |
| Adjusted total expense change (1) | 6.1 | 2.1 |
| Efficiency ratio | 70.7 | 69.4 |
| Adjusted efficiency ratio (1) | 68.8 | 69.4 |
| Net interest margin | 2.32 | 2.23 |
| (Recovery of) provision for loan losses to average loans | (0.4) | 0.6 |
| Net loan change | 3.0 | (5.2) |
| Total asset change | 3.0 | (0.2) |
| Total deposit change | (1.2) | 6.7 |
| Change in assets under administration | 5.3 | 25.3 |
| Tier 1 capital ratio | 12.1 | 10.9 |
| Total capital ratio | 16.5 | 16.2 |
| Other information | ||
| ATB Wealth’s assets under administration ($ in thousands) | $ 26,189,359 | $ 24,880,721 |
| Branches | 160 | 162 |
| Agencies | 115 | 120 |
| Total clients | 813,956 | 803,736 |
| Team members (3) | 5,024 | 5,044 |
(1) Refer to the non-GAAP measures for more information.
(2) Refer to the glossary for a definition of our key performance measures.
(3) Reported as full-time equivalents.
Financials at a Glance
Non-GAAP Measures
We use certain financial metrics based on non-GAAP measures to assess ATB’s performance. These measures do not have standardized meanings under Generally Accepted Accounting Principles (GAAP) and may not be comparable to similar measures disclosed by other financial institutions.
The following table provides a reconciliation of our non-GAAP financial measures to our reported financial results.
| For the year ended March 31 ($ in thousands) | 2022 | 2021 |
|---|---|---|
| Non-interest expenses | $ 1,346,228 | $ 1,233,453 |
| Adjustments (before payment in lieu of tax) | ||
| Writeoff of a non-strategic technology asset | 37,162 | - |
| Adjusted non-interest expenses | $ 1,309,066 | $ 1,233,453 |
| Reported net income | $ 586,380 | $ 210,525 |
| Adjustments (after payment in lieu of tax) | ||
| Writeoff of a non-strategic technology asset | 28,615 | - |
| Adjusted net income | $ 614,995 | $ 210,525 |