TORONTO, Sept. 3,
2024 /CNW/ - 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
investor_enquiry@eqb.com
Media contact:
Maggie Hall
Director, PR & Communications
maggie.hall@eqbank.ca
437-214-2442
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SOURCE Equitable Bank