First Nations Bank of Canada is reporting improved results for the fiscal year ended October 31.

The bank, which is headquartered in Saskatoon, says the 2003 financial results continue the multi-year trend of strong growth in loans, deposits and earnings.

For the 12 months ended October 31, 2003, loan volumes grew by 16% to $83.5 million, while total assets grew 17% to $114.8 million. Deposit volume increased by 26% or $15.7 million. Net income before tax was up 68% in 2003 to $549,000, a new record for the bank.

“Our increase in assets and deposits continues to add to our stability and positions us well for continued growth,” said Arden Buskell, president and COO. “The second quarter expansion to Winnipeg of our branch network will increase our access to the Manitoba and western Ontario markets.”

Founded in 1996, the bank offers a full range of personal and business banking services with a primary focus on Aboriginal customers. Its services are available through its network of branches and community banking centres and through all TD Canada Trust branches in Canada and through TD Canada Trust electronic banking channels.