Advertisement
Canada markets closed
  • S&P/TSX

    21,554.86
    -26.49 (-0.12%)
     
  • S&P 500

    5,464.62
    -8.55 (-0.16%)
     
  • DOW

    39,150.33
    +15.57 (+0.04%)
     
  • CAD/USD

    0.7302
    -0.0004 (-0.05%)
     
  • CRUDE OIL

    82.34
    +0.17 (+0.21%)
     
  • Bitcoin CAD

    88,044.15
    +532.59 (+0.61%)
     
  • CMC Crypto 200

    1,347.33
    -13.00 (-0.96%)
     
  • GOLD FUTURES

    2,334.70
    -34.30 (-1.45%)
     
  • RUSSELL 2000

    2,022.03
    +4.64 (+0.23%)
     
  • 10-Yr Bond

    4.2570
    +0.0030 (+0.07%)
     
  • NASDAQ

    17,689.36
    -32.23 (-0.18%)
     
  • VOLATILITY

    13.20
    -0.08 (-0.60%)
     
  • FTSE

    8,237.72
    -34.74 (-0.42%)
     
  • NIKKEI 225

    38,596.47
    -36.55 (-0.09%)
     
  • CAD/EUR

    0.6826
    +0.0005 (+0.07%)
     

Equitable Bank reduces prime rate

TORONTO, June 5, 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 6.95% from 7.20%.

Joint EQ Bank and Equitable Bank logo (CNW Group/Equitable Bank)
Joint EQ Bank and Equitable Bank logo (CNW Group/Equitable Bank)

Equitable's wholly owned subsidiary Concentra Bank is also reducing its prime lending rate by 25 basis points to 6.95% from 7.20%. Both rates are effective June 6, 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.

ADVERTISEMENT

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

Cision
Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/equitable-bank-reduces-prime-rate-302165272.html

SOURCE Equitable Bank

Cision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2024/05/c6664.html