Canada NewsWire
TORONTO, May 31, 2021
TORONTO, May 31, 2021 /CNW/ - Fitch Ratings, a globally recognized provider of credit ratings, commentary and research, has assigned long-term and short-term ratings of 'BBB-'/'F3' respectively to Equitable Bank, with a stable outlook.
In its report published May 26, 2021, Fitch notes that "Equitable Bank's ratings reflect its small but growing franchise in Canada. Fitch believes Equitable Bank (EQB) is adequately positioned as a challenger bank to take advantage of the growing branchless banking trends that have been accelerated by the COVID-19 pandemic, and any future government Opening Banking initiatives."
Some additional highlights from the Fitch report:
Equitable Bank is pleased that Fitch recognizes not only its strengths, but also its successful position as Canada's Challenger BankTM.
A full copy of the Fitch Ratings report for Equitable Bank can be found at fitchratings.com.
About Equitable Group Inc.
Equitable Group Inc. trades on the Toronto Stock Exchange (TSX: EQB and EQB.PR.C) and serves over a quarter million Canadians through Equitable Bank, Canada's Challenger Bankā¢. Equitable Bank has grown to become the country's eighth largest Schedule I bank measured by market capitalization, with a clear mandate to drive real 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) is a recognized innovator in digital services. Please visit equitablebank.ca for details.
SOURCE Equitable Bank
View original content: http://www.newswire.ca/en/releases/archive/May2021/31/c4276.html