Equitable Bank and Concentra Bank Increase Prime Lending Rate to 4.70%
Equitable Bank (TSX: EQB) has announced a 25 basis point increase to its prime lending rate, raising it from 4.45% to 4.70%. This adjustment also applies to its wholly owned subsidiary, Concentra Bank, which will see its rate rise to the same level. The rate hike is scheduled to take effect on October 29, 2026. As a major Canadian financial services provider with approximately $151 billion in assets under management, this move reflects shifts in the lending environment for Equitable Bank's personal and commercial banking clients.
Tickers: $LBLCF
Topics: interest rate hike monetary policy prime lending rate