Equitable Group Inc. is now EQB Inc.

Rhea-AI Summary

On June 6, 2022, EQB Inc. announced a legal name change from Equitable Group Inc. to better align with its subsidiary, Equitable Bank, and its brand as Canada’s Challenger Bank™. This change was approved by shareholders during their annual meeting on May 18, 2022. The name change aims to enhance brand modernization and market differentiation without affecting ticker symbols on the Toronto Stock Exchange (TSX: EQB, EQB.PR.C, EQB.R). EQB serves over 340,000 Canadians and has been recognized as one of the top Schedule I Banks by Forbes in 2021 and 2022.

Positive

• Name change aligns EQB's identity with its subsidiary, Equitable Bank, reinforcing brand recognition.
• No changes to ticker symbols on the TSX, ensuring continuity for shareholders.
• EQB serves over 340,000 Canadians, demonstrating strong market presence.

Negative

• None.

TORONTO, June 6, 2022 /PRNewswire/ - EQB Inc. (TSX: EQB) (TSX: EQB.PR.C) (TSX: EQB.R) (formerly Equitable Group Inc.) ("EQB"), announced today that it has filed articles of amendment and has changed its legal name to "EQB Inc." (the "name change"), effective June 6, 2022. Shareholders of EQB approved the name change at the company's annual and special meeting of shareholders held on May 18, 2022.

This name change more closely aligns EQB's name with its wholly owned subsidiary Equitable Bank, Canada's Challenger Bank™, as well as its "EQ Bank" trade name.

"Changing our legal name continues the modernization of our brand, while allowing us to further differentiate ourselves in the market and stand out as a true challenger to the largest financial institutions in this country," said Andrew Moor, President and CEO of Equitable Bank. "This change better connects our operating businesses and reinforces for our customers, partners and brokers that we embrace a future where banking is done differently."

This applies to the holding company name only. The Equitable Bank and EQ Bank names are not changing. EQB's ticker symbols on the Toronto Stock Exchange will not change and no further action is needed from current shareholders.

About EQB Inc.

EQB Inc. trades on the Toronto Stock Exchange (TSX: EQB, EQB.PR.C and EQB.R) and serves more than 340,000 Canadians through its wholly owned subsidiary Equitable Bank, Canada's Challenger Bank™. Equitable Bank has a clear mandate to drive change in Canadian banking to enrich people's lives. Founded over 50 years ago, Equitable Bank provides diversified personal and commercial banking and through its EQ Bank platform (eqbank.ca) has been named the top Schedule I Bank in Canada on the Forbes World's Best Banks 2022 and 2021 lists. Please visit equitablebank.ca for details.

Investor contact: Richard Gill Vice President, Corporate Development & Investor Relations investor_enquiry@eqbank.ca

Media contact: Jessica Kosmack Senior Manager, Communications jkosmack@eqbank.ca

 

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SOURCE Equitable Group Inc.

FAQ

What is the significance of EQB Inc.'s name change?

The name change aligns EQB more closely with its subsidiary, Equitable Bank, and enhances brand modernization.

When was EQB Inc.'s name change approved?

The name change was approved by shareholders at the annual meeting on May 18, 2022.

Will the ticker symbols for EQB change after the name change?

No, the ticker symbols on the Toronto Stock Exchange will remain the same: EQB, EQB.PR.C, and EQB.R.

How many Canadians does EQB serve?

EQB serves more than 340,000 Canadians through its subsidiary, Equitable Bank.

What recognition has Equitable Bank received?

Equitable Bank has been named the top Schedule I Bank in Canada on Forbes' World's Best Banks lists for 2021 and 2022.