1. Equitable Bank reduces prime lending rate by 25 basis points to 4.70%. 2. Concentra Bank also lowers its rate by 25 basis points effective September 18. 3. Equitable Bank serves over 761,000 customers and 6 million credit union members. 4. This reduction may increase loan demand and enhance competitive positioning. 5. The bank emphasizes technology-driven experiences in Canadian banking.
Lowering lending rates can stimulate loan growth, positively affecting profitability and market share. Historically, similar reductions have led to increased customer acquisition and retention, enhancing stock value.
This rate reduction indicates a strategic shift to attract more customers, likely leading to increased revenues. The competitive position in the banking sector could improve, which is vital for EQB's valuation.
The immediate effect is anticipated as consumers respond quickly to lower borrowing costs, but long-term benefits depend on sustained market conditions and interest rates.
TORONTO, Sept. 17, 2025 /PRNewswire/ - Equitable Bank, Canada's Challenger Bank™, today announced it is reducing its prime lending rate by 25 basis points to 4.70% from 4.95%.
Equitable Bank's wholly owned subsidiary, Concentra Bank, is also reducing its prime lending rate by 25 basis points to 4.70% from 4.95%. Both rates are effective September 18, 2025.
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 761,000 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 $137 billion in combined assets under management and administration (as at July 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:
Lemar Persaud
VP and Head of IR
investor_enquiry@eqb.com
Media contact:
Maggie Hall
Director, PR & Communications
maggie.hall@eqbank.ca
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SOURCE Equitable Bank