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TORONTO, Jan. 25, 2023 /CNW/ - Equitable Bank (the "Bank" or "Equitable"), a wholly owned subsidiary of EQB Inc. (the "Company") (TSX: EQB) (TSX: EQB.PR.C) today announced it is increasing its prime lending rate by 25 basis points to 6.70% from 6.45%. Equitable's wholly owned subsidiary Concentra Bank is also increasing its prime lending rate by 25 basis points to 6.70% from 6.45%. Both rates are effective January 26, 2023.

About Equitable Bank
EQB Inc. trades on the Toronto Stock Exchange (TSX: EQB and EQB.PR.C) and serves more than 370,000 people across Canada through its wholly owned subsidiary Equitable Bank, Canada's Challenger Bank™. Equitable Bank's wholly owned subsidiary Concentra Bank supports credit unions across Canada, which collectively serve more than 5 million members. Equitable Bank has more than $100 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Founded more than 50 years ago, Canada's Challenger 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.

SOURCE Equitable Bank