Equitable Bank Announces Change to Prime Lending Rate

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Equitable Group Inc.

Jul 16, 2015, 15:52 ET

TORONTO, June 16, 2015 /CNW/ - Equitable Bank, a subsidiary of Equitable Group Inc. (TSX: EQB and EQB.PR.C), today announced  that it has decreased its prime lending rate by 15 basis points from  2.85 per cent to 2.70 per cent, effective July 16, 2015.

About Equitable Bank
Equitable Bank is a diversified financial institution that operates coast to coast providing residential (prime and alternative) single family lending services, commercial lending services and a variety of savings solutions including high-interest savings products and GICs for individual Canadians. Since its founding in 1970, Equitable has grown to become Canada's ninth largest independent Schedule I Bank and a recognized service leader through its proven branchless banking approach. For more information, visit the Bank's website at www.equitablebank.ca and click on Investor Relations.

SOURCE Equitable Group Inc.

Tim Wilson, Vice President and Chief Financial Officer, 416-515-7000

Organization Profile

Equitable Group Inc.

Equitable Group 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...

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Equitable 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...