TORONTO, Feb. 11,
2025 /CNW/ - Equitable Bank (the "Bank"),
Canada's Challenger Bank™ with a
mission to drive change in Canadian banking to enrich people's
lives, is pleased to announce that Moody's Ratings ("Moody's") has
assigned it a long-term issuer rating of Baa2 and a short-term
issuer rating of P-2. This important milestone reflects Moody's
confidence in Equitable Bank's financial stability and risk
measured growth prospects. Moody's is a leading global provider of
credit ratings, research and risk analysis, providing valuable
insights into the financial stability and creditworthiness of
organizations, debt instruments and securities.
"Moody's inaugural ratings are a testament to Equitable Bank's
robust balance sheet and prudent risk management," said
Andrew Moor, president and CEO,
Equitable Bank. "This is an exciting next step forward for us that
underscores the strength and resilience of our business model. It
is great to have recognition from Moody's trusted and global voice
that aligns with our commitment to maintaining high standards of
financial resilience and prudence while finding exciting
opportunities for future growth."
The ratings from Moody's are expected to broaden Equitable
Bank's access to investors in the financial markets and provide
greater insight and analysis to the Bank's stakeholders regarding
financial stability and creditworthiness.
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
investor_enquiry@eqb.com
Media contact:
Maggie Hall
Director, PR & Communications
maggie.hall@eqbank.ca
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SOURCE Equitable Bank
