Equitable Bank increases prime rate

Canada NewsWire

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.

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SOURCE EQB Inc.

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