TORONTO, July 24,
2024 /CNW/ - Equitable Bank (the "Bank" or
"Equitable"), Canada's Challenger
Bank™, today announced it is reducing its prime lending rate by 25
basis points to 6.70% from 6.95%.
Equitable's wholly owned subsidiary Concentra Bank is also
reducing its prime lending rate by 25 basis points to 6.70% from
6.95%. Both rates are effective July 25,
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 639,000 customers and more than six million
credit union members through its businesses. It is a wholly owned
subsidiary of EQB Inc. (TSX: EQB and EQB.PR.C), a leading digital
financial services company with $123 billion in combined
assets under management and administration (as at April 30,
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:
David Lee
Associate 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