Equitable Bank increases prime rate

TORONTO, Oct. 28, 2026 /PRNewswire/ -- Equitable Bank today announced it is increasing its prime lending rate by 25 basis points to 4.70% from 4.45%.

Equitable Bank's wholly owned subsidiary, Concentra Bank, is also increasing its prime lending rate by 25 basis points to 4.70% from 4.45%. Both rates are effective October 29, 2026.

About Equitable Bank
EQB Inc. (TSX: EQB) is a leading Canadian financial services company with approximately $151 billion in combined assets under management and administration. It is the parent company of Equitable Bank, the country's seventh largest Schedule I bank by assets, which operates EQ Bank, Canada's Challenger Bank™.

Our purpose is to remake banking so every Canadian gets ahead, every day. Since 1970, we have built thoughtful financial solutions that serve more than 4 million customers, turning everyday moments into meaningful progress. As the exclusive financial partner of Loblaw Companies Limited's PC Optimum™ loyalty program – one of Canada's largest loyalty programs with more than 18 million members – EQ Bank's financial solutions are deeply embedded into the daily lives of Canadians. 

We provide personal and commercial banking services to Canadian households and businesses through everyday banking, tailored lending and connected payments, while fueling competition and choice in Canadian banking. Through our subsidiaries, we also offer home and auto insurance, estate and trust services, credit union solutions and alternative asset management.

To learn more, visit eqb.investorroom.com and eqbank.ca, or connect with us on Instagram, Facebook or LinkedIn.

Investor contact: 
Lemar Persaud 
SVP, Investor Relations and Enterprise Performance Management
[email protected] 

Media contact:
Danielle Mason 
Director, PR & Communications 
[email protected]

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SOURCE Equitable Bank