Another record quarter for EQB in the books! 🌟 We’re thrilled that so many Canadians continue to believe in our Challenger Bank promise and choose to bank with us. Our exceptional leadership team and smart, diligent and passionate challenger employees continue to work hard to deliver the innovative and differentiated banking experience Canadians deserve. Check out our CFO Chadwick Westlake, CFA’s take on our latest financial performance and the work we’re doing to drive change in banking and enrich more lives every day! ⬇️ #MakeBank #ChallengerBank #EQB #EQBank #EquitableBank
It’s hard to believe we’re nearly three-quarters through fiscal 2024, but it’s no surprise that EQB and EQ Bank | Equitable Bank delivered another consistent quarter of growth in Q3. It was a busy and productive summer for our challenger teams that resulted in strong financial performance and remarkable product innovation, anchored, as ever, in our Return on Equity north star at 15.9%. This quarter was marked by many significant milestones including our highly successful inaugural LRCN issuance contributing to our robust capital levels and expansion, promising momentum in our uninsured personal and commercial portfolios, the launch of our Notice Savings Account and, most recently, our Laneway Mortgage House product that we hope will help address housing access in Canadian cities. It’s clear that our growth and value-driven mindset as Canada’s Challenger Bank™ continues to resonate strongly, allowing our teams to help deliver another quarter of record revenue (up 15% y/y) and pre-provision pre-tax earnings (up 12% y/y) while also growing our total assets under management and administration to over $125 billion. A warm congratulations and thank you to our employees, customers and partners who make these results possible and help us drive change in Canadian banking every day. We're proud to reward our shareholders with yet another increase to our dividend – up 24% y/y. We're right on strategy and there is only more to come. #MakeBank Read our full report here: https://lnkd.in/g95tgc8E