Pacific & Western Bank Custom Banking Solution Growing Rapidly

Since Pacific & Western Bank of Canada (TSX:PWB) launched its Insolvency Banking Services in June 2012 it has opened more than 1,000 bank accounts and currently has deposit balances of over $125 million.

David Taylor, President & CEO, stated, “We are very pleased to have quickly established relationships with Canada’s leading insolvency firms. Our automated banking services, which are integrated with Promeric Technologies Inc.’s Ascend software, deliver an ideal banking interface with smoother, automated banking transactions, cost savings and significant operational efficiencies. We are rapidly becoming the ‘bank of choice’ for insolvency professionals across Canada.”

About Pacific & Western Bank of Canada

The Bank, a Canadian Schedule I chartered bank, operates using a “branchless model”. Deposits are raised from the insolvency industry and through a network of deposit brokers located across Canada. These deposits are invested in consumer and commercial loans and leases, as well as residential development and commercial mortgages.

The Bank is headquartered in London, Ontario and was granted its Schedule I license under the Bank Act (Canada) on August 1, 2002.

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For further information: Visit our website at: http://www.pwbank.com