EQB Reports Continued Strong Lending Growth and Core Earnings, Assets under Management up to $45.8 Billion, Increases Dividend

Full-Year 2022 Guidance for Key Metrics Confirmed

TORONTO, Aug. 9, 2022 /CNW/ – EQB Inc. (TSX: EQB) (TSX: EQB.PR.C) (TSX: EQB.R) (EQB) today reported earnings for the three and six months ended June 30, 2022 that reflected strong Q2 performance in core operations including record quarterly net interest income but with revenue growth offset at the bottom line by mark-to-market and fair value adjustments to non-interest income due to the impact of significant declines in North American equity markets on its strategic investment and security portfolios.  

Core Personal and Commercial business performance in Q2 featured conventional lending growth of 36% year over year, adjusted quarterly net interest income² up 18%, margins in line with 2022 guidance and fee-based income up 41%. However, after reflecting the decline in non-interest income, Q2 adjusted earnings² were held to $1.75…