TORONTO, March 12,
2025 /PRNewswire/ - Equitable Bank, Canada's Challenger Bank™, today released its
Public Accountability Statement (PAS) for fiscal 2024. The report
outlines Equitable Bank's commitment to supporting underserved
communities, advocacy for improvements to Canada's banking infrastructure and efforts to
drive innovation and build a fairer, more inclusive financial
landscape for Canadians.
"It's more important than ever for Canadians to understand where
their financial institutions stand on the issues that matter to
them. We're proud to share how fairness, transparency, inclusion
and accountability remain foundational elements of our Challenger
mission to drive change in banking to enrich people's lives," said
Andrew Moor, president and CEO,
Equitable Bank. "We remain focused on creating value for Canadians
and driving innovation that reshapes banking for the better. Our
bold approach is rooted in putting people first, and that will
never change."
Each year, Equitable Bank shares its PAS to outline progress in
its impact on Canadian communities and society at large. Grounded
in the bank's five core values of respect, integrity, service,
empowerment and agility, Equitable Bank is making many strides in
upholding its responsibility to all Canadians.
Key highlights for 2024 include:
- Advancing affordable housing – Maintained its
position as Canada's largest
securitizer of multi-unit residential buildings insured by the
Canada Mortgage and Housing Corporation, funding $4.3 billion across 129 term loans, 41
construction loans and 170 properties nationwide
- Supporting Canadians with disabilities – Launched a
national campaign through Concentra Trust to raise awareness for
the Registered Disability Savings Plan, a vital tool that helps
people with disabilities find financial security and
empowerment
- Serving seniors and near-retirees – Expanded
access to reverse mortgages through a direct-to-consumer channel,
addressing the needs of an underserved demographic
- Digital banking product innovation – Launched the EQ
Bank Notice Savings Account, a first-of-its-kind account in
Canada with no fees and minimum
balance requirements, to help customers to earn higher interest
while saving in a unique way
- Championing small businesses – Launched the EQ Bank
Business Account delivering high-interest, no-fee banking and a
seamless digital experience for small business owners and
entrepreneurs
- Nurturing over 1,800 proud Challengers – Encouraged
Equitable Bank's inclusive, diverse and proud employee culture by
supporting Employee Resource Groups (ERGs), including The Black
Collective, Green Team, PROUD, Newcomers to Canada, Women in Tech and Indigenous ERGs
- Expanding corporate citizenship – Deepened community
engagement through donations and sponsorships, including the
Emerging Digital Artists' Award – Canada's leading award supporting emerging
digital artists – and volunteering efforts supporting environmental
restoration, food security programs and fundraising for critical
medical research
To learn more about Equitable Bank's contributions
to Canada's economy, communities and banking
landscape, visit
https://eqb.investorroom.com/responsibility-overview
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 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 $132 billion in combined assets under
management and administration (as at January 31, 2025).
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
