We drive change in Canadian banking to enrich people's lives
EQB Inc. trades on the Toronto Stock Exchange (TSX: EQB and EQB.PR.C) and serves a growing number of Canadians through Equitable Bank, Canada's Challenger Bank™. Equitable Bank has grown to become the country's eighth largest independent Schedule I bank with a clear mandate to drive real 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, which has been named #1 Bank in Canada on the Forbes World's Best Banks 2021 list. EQ Bank provides state-of-the-art digital banking services, like the Savings Plus Account that reimagines banking by offering an everyday high interest rate, plus the flexibility of a chequing account. The platform also offers a wide range of smart banking solutions for Canadians, like fast international money transfers, US dollar accounts and a suite of registered products.
With more than 1,300 employees across Canada, the Bank serves Canadians through two business lines: Personal Banking and Commercial Banking, and six primary consumer brands.
Personal Banking operates through three business lines: EQ Bank, Residential Lending, and Wealth Decumulation (reverse mortgages and cash surrender value lines of credit).
Personal Banking serves over 340,000 Canadians, with total loans under management of approximately $24 billion. Its diversified product suite consists of deposits, single family loans, home equity lines of credit, reverse mortgages, and cash surrender value lines of credit. Our savings products are offered through EQ Bank, Equitable Bank, Equitable Trust, and a network of independent financial planners and brokers. Equitable Bank and Equitable Trust are each members of the Canada Deposit Insurance Corporation.
Commercial Banking operates through five business lines: Business Enterprise Solutions, Commercial Finance Group, Multi-unit Insured, Specialized Finance, and Equipment Leasing.
Commercial Banking serves nearly 20,000 Canadian businesses and has over $18 billion in loans under management. We lend through a network of mortgage and leasing brokers, lending partners, and other financial institutions. Commercial loans involve lending on multi-unit residential, industrial and office buildings, and other commercial properties. Our businesses compete based on service excellence, the breadth and strength of our partnerships, and our in-depth knowledge of target markets.