TORONTO, Oct. 23,
2024 /PRNewswire/ - Equitable Bank (the "Bank" or
"Equitable"), Canada's Challenger
Bank™, today announced it is reducing its prime lending rate by 50
basis points to 5.95% from 6.45%.
Equitable's wholly owned subsidiary Concentra Bank is also
reducing its prime lending rate by 50 basis points to 5.95% from
6.45%. Both rates are effective October 24,
2024.
About Equitable Bank
Equitable Bank has a clear mission to drive change in Canadian
banking to enrich people's lives. As Canada's Challenger Bank™ and seventh largest
bank by assets, it leverages technology to deliver exceptional
personal and commercial banking experiences and services to over
670,000 customers and more than six million credit union members
through its businesses. It is a wholly owned subsidiary of EQB Inc.
(TSX: EQB), a leading digital financial services company
with $125 billion in combined assets under management and
administration (as at July 31, 2024). Through its digital EQ
Bank platform (eqbank.ca), its customers have named it one
of the top banks in Canada on the Forbes World's Best
Banks list since 2021.
To learn more, please
visit eqb.investorroom.com or connect with us
on LinkedIn.
Investor contact:
Mike
Rizvanovic
Managing Director, Investor
Relations
investor_enquiry@eqb.com
Media
contact:
Maggie
Hall
Director, PR &
Communications
maggie.hall@eqbank.ca
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SOURCE Equitable Bank