Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeCommoditiesEnergyAlberta bank eyeing energy sector as ‘optimism’ mounts, new players emergeATB Financial in talks with some energy firms about new opportunities, CEO saysLast updated 24 minutes ago You can save this article by registering for free here. Or sign-in if you have an account.Chris Turchansky, the newly-appointed chief executive of ATB Financial, in Calgary on Dec. 17, 2025. Photo by Brent Calver/PostmediaAfter a years-long wave of consolidation in Canada’s oilpatch, the head of one Alberta bank says there’s a new generation of energy companies forming on the sidelines.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorAfter a massive year of mergers and acquisitions for Canadian energy — totalling over $31 billion — smaller players are emerging in the wake, says Chris Turchansky, the chief executive of ATB Financial.“After a cycle of consolidation, you see new companies start to form,” Turchansky said in an interview. “We’re in the early stages of that, which is really exciting for the energy sector.”More energy companies have approached the bank with new opportunities, he added, without being specific.“They have boards of directors that have been through this before,” he said. “So we’re looking at those companies as this formation continues to happen, and see how we can step in to support.”His remarks came as the Edmonton-headquartered bank reported its results for the most recent quarter, which show growing profits and more business from customers.Since Turchansky took the helm at ATB in January, the sentiment around Canadian energy has shifted dramatically.“We see a definite optimism on the energy side, and I think the price of (commodities) has definitely helped,” Turchansky said.An effective closure of the Strait of Hormuz, a vital shipping artery for the world’s oil, has sent energy prices surging over the past several months. It’s also drawn renewed attention to Canada’s position as a secure, reliable supplier of crude.At the same time, a landmark deal between Alberta and Ottawa that could send a new pipeline to the country’s west coast has also advanced significantly, but an exact route and proponent remain undetermined. Prime Minister Mark Carney and Alberta Premier Danielle Smith announced the submission of the West Coast Pipeline Project at Trans Am Piping Products in Calgary on Thursday, July 2, 2026. Gavin Young/PostmediaAlthough there is still more work ahead, ATB sees energy as a place of “tremendous” growth and it’s “excited to lean in” to the sector where possible, Turchansky said.Real estate, agriculture and energy all contributed to profit growth in business banking at ATB, which totalled $75 million in 2026, a 29 per cent jump compared to April to June of last year.“Clients have spoken with their feet in terms of their desire to engage and to support and to partner with us in growing and supporting their businesses,” Turchansky said.Overall, profits at the bank, an Alberta crown corporation, rose more than 19 per cent in its most recent quarter, totalling over $160 million compared to the same period last year.The bank’s customers also took out more loans and made more deposits than the previous spring, signalling more optimism in Alberta, according to Turchansky.“Robust deposit growth speaks to how healthy the companies in Alberta are right now,” he said.Still, he acknowledges that inflation and heightened interest rates are taking a toll on some companies.“It’s not lost on us,” Turchansky said. “Our goal is to make sure we’re there to support them.”Funds that banks set aside to cover loans that may go uncollected, called provisions for loan losses, more than doubled at ATB compared to last year, totalling $29.5 million.Banks use these provisions to cover potential losses from unpaid loans or loan defaults, and higher values may indicate more loans are at risk of, or are expected to go unpaid.Turchansky said the provisions are above last year, but they’re still in a “very strong” position and on the low end for the bank historically.“What you’re seeing is optimism come back, which is critical for growth and speaks (to) a great future here in the province,” he said. 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