TORONTO, April 7, 2025 /PRNewswire/ - EQB Inc. (TSX: EQB) ("EQB" or the "Company") is proud to publish its latest Responsibility Report. The annual report outlines the Company's progress against its sustainability priorities and efforts to build an ecosystem of innovation and growth that serves its purpose of driving change in Canadian banking to enrich people's lives as the owner of Equitable Bank, Canada's Challenger BankTM.
EQB Inc. Logo (CNW Group/EQB Inc.)
"Our role as Canada's Challenger Bank includes a clear responsibility to operate with transparency, accountability and care for Canada's communities and environment, in tandem with our efforts to grow, innovate and advocate for a better banking system for Canadians," said Andrew Moor, president and CEO, EQB. "We've made meaningful progress across our priorities this year, including advancing affordable housing, helping more Canadians access financial tools that provide better value, maintaining robust governance standards and operating with a thoughtful approach to climate responsibility – all while continuing to grow with purpose."
The EQB Responsibility Report captures key milestones across existing programs while also outlining new strategies designed to support a more sustainable future. Key highlights from this year's report include:
Record support for Canadians' homeownership aspirations and affordable housing development
Record year in efforts to support Canada's housing supply, with Equitable Bank funding $4.3 billion in multi-unit residential loans that supported the development of 170 properties
Issued a $735 million social covered bond, the first-of-its-kind by a Canadian bank, with a clear focus on social and affordable housing
Committed to investing in the Company's alternative asset manager ACM Advisors' new Social and Climate Fund, which is set to launch in 2025 and will provide institutional investors with access to commercial lending assets aligned with social and climate initiatives
Focus on advancing financial inclusion and innovation for all Canadians
EQ Bank grew to serve more than half a million Canadians in 2024, extending its proud legacy of innovation and increasing competitive intensity in banking by launching the Notice Savings Account while also supporting Canadian business owners through the beta launch of its Business Account
Continued to serve the needs of Canada's growing retiree population through Equitable Bank's wealth decumulation business (including reverse mortgages and insurance lending) that grew 47% y/y and helped more Canadian seniors enjoy peace of mind and live the retired lifestyle they deserve
Spearheaded a national campaign with Canadian credit unions to raise awareness for Registered Disability Savings Plans, designed to support Canadians with disabilities and their caregivers to secure their financial future
Addressing climate risks and transparency in EQB's emissions profile
Launched Equitable Bank's inaugural Sustainable Bond Framework, which outlines the Bank's focus on raising funds through issuance of Green, Social or Sustainable Bonds
Continued commitment to carbon neutrality of Scope 1 and Scope 2 through retirement of 995 tCO2e Verified Emissions Reductions
Commitment to equity, diversity and inclusion and community engagement
Supported EQB's vibrant and empowered Employee Resource Groups, including The Black Collective, The Green Team, Indigenous, Newcomers to Canada, Proud and Women in Tech
Exceeded board diversity target of independent directors self-identifying as women at 44%
Grew female representations at the Junior Executive level by 17% y/y and racialized persons at the Middle Management level by 24% y/y
Extended financial assistance for charities that address houselessness and mental health, supported over 180 Canadian artists and 18 Canadian arts organizations and funded several scholarships and bursaries, including those offered to Indigenous students
Employees participated in 2,775 volunteer hours towards meaningful community initiatives
To learn more about the EQB's commitment to a more sustainable and enriching future, including the EQB Responsibility Report, Equitable Bank's Public Accountability Statement and Sustainable Bond Framework, please visit eqb.com/responsibility.
About EQB Inc. EQB Inc. (TSX: EQB) is a leading digital financial services company with $132 billion in combined assets under management and administration (as at January 31, 2025). It offers banking services through Equitable Bank, a wholly owned subsidiary and Canada's seventh largest bank by assets, and wealth management through ACM Advisors, a majority owned subsidiary specializing in alternative assets. As Canada's Challenger Bank™, Equitable Bank has a clear mission to drive change in Canadian banking to enrich people's lives. It leverages technology to deliver exceptional personal and commercial banking experiences and services to over 700,000 customers and more than six million credit union members through its businesses. Through its digital EQ Bank platform (eqbank.ca), its customers have named it one of Canada's top banks on the Forbes World's Best Banks list since 2021.
