"We envisage ongoing sell turmoil and a very uncertain global fiscal outlook will continue to have an impact on the bank's profits growth," Pollock said. Income loan.

TORONTO, Dec 4 (Reuters) - Canadian Western Bank (CWB.TO: , , , ) blamed the worldwide solvent emergency for its more homely 2009 income advancement target, which along with a drop quarterly a packet sent its shares down more than 9 percent on Thursday. Speaking on a colloquy requirement to discuss the bank's fourth-quarter results, Chief Executive Larry Pollock said that the extensive economic volatility and pecuniary woes will likely be a loiter on its performance in fiscal 2009.

"We watch ongoing market turmoil and a very unpredictable global economic slant will continue to have an impact on the bank's net growth," Pollock said. "Revenue, proceeds and profitability measures will carry on to be negatively affected until market volatility subsides." Shares of Canadian Western were down 9.4 percent at C$13.77 by former matinal on the Toronto Stock Exchange Canadian Western is the worst performing bank old in Canada so far this year.

Canadian Western said it expects gain enlargement on a strain of a piece heart of 5 percent to 8 percent for 2009. That is down from a 9 percent position in proceeds for budgetary 2008, which missed its target for swelling of 17 percent. The regional bank, Canada's seventh-largest by furnish value, said screen gain for 2009 would rise anywhere between 2 percent and 5 percent.

That is down from a 6 percent make something of oneself in capture return for 2008, which also missed its butt for growth of 15 percent. Loan increase for 2009 is currently pegged at 10 percent, down from 16 percent in economic 2008. The bank said its end ranges for 2009 throw back its expectations for telling allowance growth and good overall performance germane to the adverse market conditions and a very ambivalent global economic outlook. Merrill Lynch study analyst Sumit Malhotra said Canadian Western Bank's 2009 quarry pegs pay per parcel to be in a kind C$1.60 to C$1.65. Ahead of the bank's every ninety days results, Malhotra's yield per share target for the bank for 2009 was C$1.63 while the commonplace 2009 takings per share reckon was C$1.77. EARNINGS SLIDE 17 PERCENT Canadian Western reported preceding on Wednesday that its fourth-quarter value slipped 17 percent as it dealt with the wide-ranging monetary crisis that has many retail experts forecasting a recession in Canada.

The bank, based in Edmonton, Alberta, said it earned C$24.5 million ($19.3 million), or 38 Canadian cents a share, for the quadrature ended Oct. 31. That compared with a clear of C$29.6 million, or 46 Canadian cents a share, a year earlier.

Analysts had expected compensation of 41 Canadian cents a share, excluding items, according to Reuters Estimates.

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