TORONTO, Dec. 7, 2022 /PRNewswire/ - Equitable Bank (the "Bank" or "Equitable"), a wholly owned subsidiary of EQB Inc. (the "Company") (TSX: EQB) (TSX: EQB.PR.C) today announced it is increasing its prime lending rate by 50 basis points to 6.45% from 5.95%. Equitable's wholly owned subsidiary Concentra Bank is also increasing its prime lending rate by 50 basis points to 6.45% from 5.95%. Both rates are effective December 8, 2022.

EQB Inc. Logo (CNW Group/EQB Inc.)

About Equitable Bank
EQB Inc. trades on the Toronto Stock Exchange (TSX: EQB and EQB.PR.C) and serves more than 370,000 Canadians through its wholly owned subsidiary Equitable Bank, Canada's Challenger Bank™. Equitable Bank's wholly owned subsidiary Concentra Bank supports credit unions across Canada that serve more than 5 million members. Equitable Bank has over $100 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Founded over 50 years ago, Canada's Challenger Bank™ provides diversified personal and commercial banking and through its EQ Bank platform (eqbank.ca) and has been named the top Schedule I Bank in Canada on the Forbes World's Best Banks 2022 and 2021 lists. Please visit equitablebank.ca for details.

Investor contact:
Richard Gill
Vice President, Corporate Development & Investor Relations
investor_enquiry@eqbank.ca

Media contact:
Jessica Kosmack
Senior Manager, Communications
jkosmack@eqbank.ca

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/equitable-bank-increases-prime-rate-301697588.html

SOURCE EQB Inc.

Copyright 2022 PR Newswire

EQB (TSX:EQB.PR.C)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more EQB Charts.
EQB (TSX:EQB.PR.C)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more EQB Charts.