EQB at Scotiabank summit: pc deal fuels wider growth push

On September 9, 2026, EQB (EQB) showcased its expanded business scope at Scotiabank’s 27th Annual Financials Summit, following its acquisition of PC Financial. CEO Chadwick highlighted that EQB had transformed into a comprehensive financial-services platform, boasting 4.3 million customers from a base of around 750,000 pre-acquisition.

The company reported improved margins, better efficiency, and early synergy gains, with a 50.1% efficiency ratio, a net interest margin of 2.41%, and a 30% increase in revenue per full-time employee.

EQB's CEO noted that the company has successfully achieved 50% of its $30 million target in cost synergies within the first month post-merger. Despite seeing some credit stress, particularly in card losses, EQB remains confident in its credit quality and has implemented provisions to manage the issue. The company aims to grow deposits, cross-sell products, and boost its brand through PC Optimum and its 180 retail locations.

Chadwick emphasized that EQB had made significant progress on its three key priorities: revitalizing the core business, expanding its product offerings, and enhancing efficiency. The company's revenue per full-time employee grew by 30% year over year, and it maintained a strong return on equity of 7.5%, with a long-term target of 15% to 17%.

EQB's success in integrating PC Financial has been smooth, with a "do no harm" approach to ensure minimal service disruptions for their customers. The company has retained all PC Financial deposits while continuing organic growth, and employee engagement among PC Financial staff was higher four weeks after the merger. The partnership with Loblaw, known for its strong performance, further strengthened EQB's position with Loblaw becoming the company's largest shareholder.