Equitable Bank

Equitable Bank is Canada's seventh largest Schedule I bank, founded in 1970 and now managing more than $134 billion in assets for upwards of 779,000 customers. It operates as a challenger bank, offering personal and commercial banking alongside specialised residential and commercial real estate lending, reverse mortgages and lending solutions for the insurance sector. The company is a publicly traded subsidiary of EQB Inc., listed on the Toronto Stock Exchange as EQB, and employs approximately 1,900 people across Canada.

Technology figures prominently in the bank's operations. Equitable Bank was the first Canadian bank to host its core banking system in the cloud, and its technical work spans cloud core banking infrastructure, digital platform development and online financial services. Its best-known product, EQ Bank, was launched in 2016 and provides high-interest savings accounts, GICs and everyday banking without fees; it serves approximately 607,000 Canadians. Through its wholly-owned subsidiary Concentra Bank, the company also supports credit unions whose members collectively number over six million.

The bank describes itself as evolution-oriented, having grown from a trust company into a challenger bank with a focus on meeting demand for remote and digital financial services. It has been named to the Forbes World's Best Banks list consecutively since 2021.