The integration of PC Financial has fundamentally altered EQB’s market footprint, expanding the bank’s reach to over 4 million customers and establishing it as the exclusive financial partner for the PC Optimum loyalty program. Despite a challenging housing market and the impact of elevated performing and impaired provisions, the bank achieved 27% year-over-year revenue growth. The firm’s direct retail deposits rose to $10.8 billion, a 11% increase from the previous year, bolstered by the addition of the PC Bank deposit base.
EQB Reports Q3 2026 Results, Integrates PC Financial and Raises Dividend
EQB Inc. reported its third-quarter 2026 earnings on Monday, marking a pivotal transition following the July 1 acquisition of PC Financial. While the bank posted a reported net loss of $127.3 million due to substantial acquisition-related provisions, its adjusted diluted earnings per share climbed to $2.12, reflecting a 2% year-over-year increase.
Chadwick Westlake, President and CEO of EQB, noted that the integration is proceeding according to plan, with $15 million in annualized cost savings realized to date. While the acquisition triggered a $219 million Day 1 provision for credit losses on the acquired credit card portfolio, the bank maintains a strong capital position with a CET1 ratio of 13.4%. Reflecting confidence in the combined business model’s long-term earnings power, the board declared a dividend of $0.63 per share, representing a 15% increase compared to the same quarter last year. The bank intends to provide further guidance on its 2027 objectives at an Investor Day scheduled for December.
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