Equitable Bank increases prime rate

TORONTO, June 7, 2023 /CNW/ - Equitable Bank (the "Bank" or "Equitable"), a wholly owned subsidiary of EQB Inc. (the "Company") (TSX: EQB) (TSX: EQB.PR.C) today announced it is increasing its prime lending rate by 25 basis points to 6.95% from 6.70%.

Equitable's wholly owned subsidiary Concentra Bank is also increasing its prime lending rate by 25 basis points to 6.95% from 6.70%. Both rates are effective June 8, 2023.

About Equitable Bank
Equitable Bank—Canada's Challenger Bank™—is a wholly owned subsidiary of EQB Inc., which trades on the Toronto Stock Exchange (TSX: EQB) (TSX: EQB.PR.C) and serves more than 515,000 customers. Equitable Bank's wholly owned subsidiary Concentra Bank supports Canadian credit unions and their more than 6 million members. With nearly $105 billion in combined assets under management and administration, Equitable Bank has a clear mandate to drive change in Canadian banking to enrich people's lives. Founded more than 50 years ago, Canada's Challenger Bank™ provides diversified personal and commercial banking solutions, and through its digital EQ Bank platform (eqbank.ca), it was named the best bank in Canada on Forbes' World's Best Banks list in 2021, 2022 and 2023. Please visit eqbank.investorroom.com for more details.

Investor contact: Richard Gill Vice President, Corporate Development & Investor Relations [e-mail]

Media contact: Deborah Chatterton Director, Communications [e-mail]

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SOURCE EQB Inc.

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