Business
EQB receives Competition Bureau clearance for acquisition of PC Financial
EQB receives Competition Bureau clearance for acquisition of PC Financial Canada NewsWire...
About this update from Loblaw Companies Limited
[{"type":"text","content":"\n\n\nEQB receives Competition Bureau clearance for acquisition of PC Financial\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nCanada NewsWire\n\n\nRegulatory milestone advances Canada's Challenger Bank at scale – leveraging loyalty, innovative products and channels to drive greater competition and choice for CanadiansTORONTO, March 6, 2026 /CNW/ - EQB Inc. (\"EQB\") (TSX: EQB) and Loblaw Companies Limited (\"Loblaw\") (TSX: L) today announced that EQB has received the Competition Bureau's clearance for EQB's previously announced proposed acquisition of President's Choice Bank (\"PC Bank\"), PC® Financial Insurance Agency Inc., PC® Financial Insurance Brokers Inc. and certain other affiliated entities of PC Bank (collectively, \"PC Financial\") (the \"Acquisition\"). The proposed Acquisition also requires approval by the Office of the Superintendent of Financial Institutions and the Minister of Finance.\n\n\n\n\n\n\n\nThe Competition Bureau's approval represents an important regulatory milestone that will bring two of Canada's most innovative banking platforms together to redefine the sector by delivering extraordinary value, products and services at scale to Canadians from coast-to-coast.\"The Competition Bureau's approval moves us closer to bringing together two banks built on a shared belief: Canadians deserve better,\" said Chadwick Westlake, President and CEO, EQB. \"Being a regulated Schedule I bank matters and gives us the strength and credibility to drive real, lasting change in Canadian banking. We'll pair innovative products and everyday spending solutions at scale to build one of Canada's most relevant loyalty‑linked banking ecosystems. With greater reach, new capabilities and a presence where customers already are, we'll deliver better value and experiences for hardworking Canadians while raising the bar for the industry.\"\"This approval is an important step forward in our long-term relationship with EQB that will materially improve how Canadians across the country experience banking,\" said...