March 11, 2013
/CNW/ - On
March 8, 2013
, Pacific & Western Credit Corp. (TSX:PWC) purchased an additional
of Pacific & Western Bank of
common shares. This increased the Bank's common equity tier one (CET1) percentage to approximately 10.4%, one of the highest capital ratios in the Canadian banking industry.
, President & CEO of PWC said, "This year one of our important goals was to increase our Bank's key capital ratio, so that it could continue to grow profitably in its niche markets. With the favourable outcome of our Series C note holder vote on
March 7, 2013
we were able to make significant progress in this area."
Pacific & Western Bank of
is wholly owned by Pacific & Western Credit Corp., whose shares trade on the TSX under the symbol PWC.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Investor Relations: (800) 244-1509,
Public Relations & Media: Tel Matrundola, Vice-President, (416) 203-0882,
SOURCE Pacific & Western Credit Corp.