Equitable Bank reduces prime rate

TORONTO, Jan. 29, 2025 /PRNewswire/ - Equitable Bank (the "Bank" or "Equitable"), Canada's Challenger Bank™, today announced it is reducing its prime lending rate by 25 basis points to 5.20% from 5.45%.

Equitable's wholly owned subsidiary Concentra Bank is also reducing its prime lending rate by 25 basis points to 5.20% from 5.45%. Both rates are effective January 30, 2025.

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 nearly 700,000 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 $127 billion in combined assets under management and administration (as at October 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
[email protected]

Media contact:
Maggie Hall
Director, PR & Communications 
[email protected]

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SOURCE Equitable Bank