Equitable Bank announces redemption of Concentra Bank Class A Preferred Shares

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Sep 03, 2024, 17:00 ET

TORONTO, Sept. 3, 2024 /PRNewswire/ - Equitable Bank, Canada's Challenger Bank^™, today announced that its wholly-owned subsidiary, Concentra Bank (the "Bank"), redeemed all of its issued and outstanding Class A Preferred Shares, Series 1, and Class A Preferred Shares, Series 2, on August 31, 2024 (the "Redemption Date"), at $25.00 per share for a total of $110,987,500, less any tax required to be deducted and withheld by the Bank.

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 670,000 customers and more than six million credit union members through its businesses. It is a wholly owned subsidiary of EQB Inc. (TSX: EQB) (TSX: EQB.PR.C), a leading digital financial services company with $125 billion in combined assets under management and administration (as at July 31, 2024). 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
[email protected]

Media contact:

Maggie Hall
Director, PR & Communications
[email protected]
437-214-2442

SOURCE Equitable Bank