Equitable Bank and Concentra Bank lift prime lending rates by 25 basis points to 4.70%, signaling a shift in lending costs for Canadian borrowers.
Equitable Bank and its subsidiary, Concentra Bank, have officially increased their prime lending rates by 25 basis points, moving from 4.45% to 4.70%. This adjustment directly impacts the bank's interest-sensitive revenue streams and reflects a strategic response to the current interest rate environment.
The new prime lending rate is 4.70%.
Yes, Concentra Bank, a wholly owned subsidiary of Equitable Bank, is also increasing its prime rate to 4.70%.
Equitable Bank and its subsidiary, Concentra Bank, have officially increased their prime lending rates by 25 basis points, moving from 4.45% to 4.70%. This adjustment reflects the bank's response to the current interest rate environment and is expected to influence net interest margins for the financial institution.
Following the 25 basis point increase, the prime lending rate at Equitable Bank and its subsidiary, Concentra Bank, is now 4.70%.