Bank of Alberta

This article is about the defunct private bank and is not to be confused with ATB Financial.

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]

Bank of Alberta

Founded	1984
Founder	Charles Allard Eugene Pechet
Defunct	1988
Fate	Merged with Western & Pacific Bank
Successor	Canadian Western Bank
Headquarters	Edmonton, Alberta , Canada

History

When 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

• List of banks in Canada