Western Financial Group and Bank West Close on the Acquisition of Ubiquity Bank
(TSX – WES) – Western Financial Group and its subsidiary Bank West announced they have closed on the acquisition of Ubiquity Bank of Canada effective October 1, 2007. The combined asset base of Bank West now exceeds $300 million. “This addition increases Bank West’s profitability, adds to their scale, and expands the customer base and distribution relationships in Western Canada”, said Scott Tannas, President and CEO Western Financial Group.
“We are pleased that we have taken another step in establishing ourselves as a significant financial institution in Western Canada.” said Bob Marshall, President and CEO Bank West. Mr. Marshall also mentioned Bank West
is committed to contributing towards Western Financial Group’s success as a leading financial service company in Western Canada.
Western Financial Group is a leader in providing insurance, financial services and banking services in over 80 communities, to more than 400,000 individuals and businesses in Western Canada through its WFG Agency Network locations, its affiliated insurance brokers, Western Life Assurance Company and Bank West.
The Common Shares of Western Financial Group are traded on the Toronto Stock Exchange under the symbol “WES”.
For further information, please contact:
Arlene Beggs, Assistant to the President
Western Financial Group