Business
EQB reports second quarter 2026 results and announces expected July 1, 2026 closing of PC Financial
EQB reports second quarter 2026 results and announces expected July 1, 2026 closing of PC
About this update from Eqb Inc
[{"type":"text","content":"Diluted EPSQ2 Adjusted1$2.03(10%) q/q, (12%) y/yReturn on equityQ2 Adjusted110.2%(90 bps) q/q, (170 bps) y/yPPPT2Q2 Adjusted1$153.1MM(2%) q/q, (4%) y/yTotal PCL Q2 Adjusted1$45.4MM+16% q/q, +50% y/y CET1 ratio13.6%Total capital ratio17.1%Q2 Reported$1.29 (39%) q/q, (42%) y/yQ2 Reported6.5%(390 bps) q/q,(490 bps) y/y Q2 Reported$119.5(19%) q/q, (23%) y/yQ2 Reported$45.4MM+16% q/q, +50% y/yCommon share dividend declared$0.61/share+3% q/q, 15% y/y TORONTO, May 27, 2026 /PRNewswire/ - EQB Inc. (TSX: EQB) today reported earnings for the second quarter and six months ended April 30, 2026.Adjusted diluted EPS1: $2.03, (10%) q/q and (12%) y/y (reported $1.29)Adjusted net income1: $78.3 million, (8%) q/q and (17%) y/y (reported $51.3 million)Adjusted PPPT1,2: $153.1 million, (2%) q/q and (4%) y/y (reported $119.5 million)Adjusted ROE1: 10.2%, (90 bps) q/q and (170 bps) y/y (reported 6.5%)Revenue: $302.4 million, (1%) q/q and (4%) y/y (reported $302.4 million)Book value per share: $81.46, flat q/q and +1% y/yEQ Bank customers: 659,000, +4% q/q and +18% y/yCommon share dividends declared: $0.61 per share, +3% q/q and +15% y/yCapital: CET1 ratio of 13.6% and total capital ratio of 17.1%\"The second quarter reflected solid performance during a persistently uncertain economic environment and our team performed well against this backdrop, continuing to demonstrate operating discipline, renewed focus, and financial resilience,\" said Chadwick Westlake, President and CEO. \"As we look ahead to the second half of the year, our business will meaningfully shift with the anticipated July 1 close of our PC Financial transaction – positioning us to serve millions of Canadians as a challenger at scale. Through a new loyalty-linked banking ecosystem, we will provide Canadians with better value, better products, more rewards and new channels, putting real choice and control back into their hands and giving every Canadian the opportunity to get ahead, every day.\"PC Financial acquisition accelerating rapidly, set to close July 1, 2026EQB secured final approval for the acquisition of PC Financial3 (the \"Acquisition\") from Loblaw Companies Limited (\"Loblaw\") from the Minister of Finance and National Revenue on May 5, marking a significant regulatory milestone and unlocking the next phase of growth. EQB is set to expand its customer base to 3.3...