TORONTO, June 7, 2023
/CNW/ - 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 25 basis
points to 6.95% from 6.70%.
Equitable's wholly owned subsidiary Concentra Bank is also
increasing its prime lending rate by 25 basis points to 6.95% from
6.70%. Both rates are effective June 8,
2023.
About Equitable Bank
Equitable Bank—Canada's
Challenger Bank™—is a wholly owned subsidiary of EQB Inc., which
trades on the Toronto Stock Exchange (TSX: EQB) (TSX: EQB.PR.C) and
serves more than 515,000 customers. Equitable Bank's wholly owned
subsidiary Concentra Bank supports Canadian credit unions and their
more than 6 million members. With nearly $105 billion in
combined assets under management and administration, Equitable Bank
has a clear mandate to drive change in Canadian banking to enrich
people's lives. Founded more than 50 years
ago, Canada's Challenger Bank™ provides diversified
personal and commercial banking solutions, and through its digital
EQ Bank platform (eqbank.ca), it was named the best bank
in Canada on Forbes' World's Best Banks list in 2021,
2022 and 2023.
Please visit eqbank.investorroom.com for more
details.
Investor
contact:
Richard Gill
Vice President, Corporate Development & Investor Relations
investor_enquiry@eqbank.ca
|
Media
contact:
Deborah Chatterton
Director, Communications
dchatterton@eqbank.ca
|
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SOURCE EQB Inc.