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Equitable Bank increases prime rate

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TORONTO, June 1, 2022 /CNW/ - Equitable Bank (the "Bank" or "Equitable"), a wholly owned subsidiary of Equitable Group Inc. (the "Company") (TSX: EQB) (TSX: EQB.PR.C) (TSX: EQB.R) today announced it is increasing its prime lending rates by 50 basis points to 3.70% from 3.20%, effective June 2, 2022.

Equitable Bank and EQ Bank Logo (CNW Group/Equitable Bank)
Equitable Bank and EQ Bank Logo (CNW Group/Equitable Bank)

About Equitable Group Inc.

Equitable Group Inc. trades on the Toronto Stock Exchange (TSX: EQB) (TSX: EQB.PRC) and (TSX: EQBR) and serves more than 340,000 Canadians through its wholly owned subsidiary Equitable Bank, Canada's Challenger Bank™. Equitable Bank has a clear mandate to drive change in Canadian banking to enrich people's lives. Founded over 50 years ago, Equitable Bank provides diversified personal and commercial banking and through its EQ Bank platform (eqbank.ca) has been named the top Schedule I Bank in Canada on the Forbes World's Best Banks 2022 and 2021 lists. Please visit equitablebank.ca for details.

About Equitable Bank

Equitable Group Inc. trades on the Toronto Stock Exchange (TSX: EQB, EQB.PR.C and EQB.R) and serves more than 325,000 Canadians through its wholly-owned subsidiary Equitable Bank, Canada's Challenger Bank™. Equitable Bank has a clear mandate to drive change in Canadian banking to enrich people's lives. Founded over 50 years ago, Equitable Bank provides diversified personal and commercial banking services. Please visit equitablebank.ca for details.

Cision
Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/equitable-bank-increases-prime-rate-301559652.html

SOURCE Equitable Bank

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Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2022/01/c4717.html