February 8, 2022 – Equitable Acquires Concentra

by | Feb 8, 2022 | Industry Updates

Canada’s 8th largest Schedule 1 bank, Equitable Bank (EQ Bank), announced definitive plans to acquire Concentra, a wholesale bank and trust company for Canadian credit unions. The acquisition also includes SaskCentral’s 84% equity interest in Concentra. SaskCentral is the liquidity manager and consultant to Saskatchewan’s credit unions. Equitable’s CEO Andrew Moor said, “The addition of Concentra elevates Equitable’s place among the country’s top-tier financial institutions, expands our core markets of Personal and Commercial banking including alternative, reverse single-family mortgage loans, commercial lending, and equipment leasing, and furthers our standing relationship with credit unions with whom we share a strong philosophical bond.”

Read the full press release here.

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