Equitable Bank increases prime rate

TORONTO, March 2, 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 25 basis points to 2.70% from 2.45%, effective March 3, 2022.

About Equitable Group Inc.

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 and through its EQ Bank platform (eqbank.ca) has been named #1 Bank in Canada on the Forbes World's Best Banks 2021 list. Please visit equitablebank.ca for details.

SOURCE Equitable Bank

For further information: Richard Gill, Senior Director, Corporate Development & Investor Relations, investor_enquiry@eqbank.ca, 647-600-7544; Sarah Farano, Investor Relations & Finance Manager, investor_enquiry@eqbank.ca, 416-513-4144

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