CAPITAL STRUCTURE AND REGULATORY CAPITAL RATIOS
2023
2022
Regulatory Capital, Net of Deductions Common equity Tier 1 (1)
$
3,157,495
$
2,861,456
Tier 1 (1)
3,732,495
3,436,456
Total
4,388,046
3,925,118
Capital Ratios
Common equity Tier 1
9.7 %
8.8 %
Tier 1
11.5
10.6
Total
13.5
12.1
Leverage Ratio
8.5
8.1
(1) In Q2 2020, OSFI introduced transitional arrangements related to the capital treatment of performing loan allowances, resulting in a portion of allowances that would otherwise be included in Tier 2 capital to be included. The transitional arrangement concluded at the end of fiscal 2022 and did not impact CET1 and Tier 1 capital (October 31, 2022 – $5,576) and CET1 and Tier 1 ratios after fiscal 2022 (October 31, 2022 – negligible impact). The transitional arrangement had no impact on the Total capital ratio.
28. SUBSIDIARIES
As at October 31, 2023, we, either directly or indirectly through our subsidiaries, control the following significant subsidiaries:
Canadian Western Bank Subsidiaries (1) (Annexed in accordance with subsection 308 (3) of the Bank Act)
Carrying Value of Voting Shares Owned by CWB (2)
Address of Head Office
CWB National Leasing Inc.
1525 Buffalo Place Winnipeg, Manitoba
$
134,458
CWB Wealth Management Ltd.
Suite 3000, 10303 Jasper Avenue Edmonton, Alberta
118,660
CWB Wealth Partners Ltd.
801 10th Ave SW Calgary, Alberta
Canadian Western Financial Ltd.
Suite 3000, 10303 Jasper Avenue Edmonton, Alberta
CWB Maxium Financial Inc.
Suite 1, 30 Vogell Road Richmond Hill, Ontario
30,812
Canadian Western Trust Company
Suite 3000, 10303 Jasper Avenue Edmonton, Alberta Suite 3000, 10303 Jasper Avenue Edmonton, Alberta
19,136
Valiant Trust Company
12,000
(1) We, either directly or through our subsidiaries, own 100% of the voting shares of each entity. (2) The carrying value of voting shares is stated at the cost of our equity in the subsidiaries in thousands of dollars.
106 | CWB Financial Group 2023 Annual Report
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