EQ Bank saw a 27 per cent boost in earnings to $87.9 million in the three months ending March 31, or diluted earnings of $2.51 per share. This came as the company’s conventional loans segment rose 35 per cent year over year to $22.5 billion.
“Our Challenger Bank approach was validated again this quarter. Our lending activities produced double-digit growth and some of the best credit metrics I have seen since joining Equitable 15 years ago,” said EQ Bank president and chief executive officer Andrew Moor in a release.Article content Moor also expressed optimism over the federal government’s progress on open banking, which is expected to launch in 2023.