New office signals long-term investment
EQB Inc., the parent company of Equitable Bank, has officially opened its new national headquarters at 25 Ontario Street in downtown Toronto.
The newly named EQ Bank Tower spans nearly 278,000 square feet across 13 floors and is part of the company’s effort to expand operations while maintaining a presence outside of Toronto’s traditional financial district.
The building houses Equitable Bank’s staff in a consolidated space and is designed with a focus on sustainability. It holds LEED Gold Core and Shell certification, with additional certifications for interior design, operations and maintenance, and accessibility standards currently in progress. Fixtures and furniture used in the space are sourced from Canadian manufacturers, the company noted.
"The EQ Bank Tower has been designed to support our talented Challengers by creating a work environment that inspires creativity, bold thinking and the ambition that's crucial to pursuing untapped opportunities traditional banking has yet to explore," said Gavin Stanley, senior vice president at EQB. "We are more equipped than ever to keep nurturing top talent who are driven by their desire to make a positive impact in the lives of Canadians."
Equitable Bank says the new headquarters supports continued growth following a period of steady expansion.
"The EQ Bank Tower is testament to our incredible growth over 50 years in the Canadian market," EQB president and CEO Andrew Moor said in a media release. “As this momentum continues, our new headquarters is a meaningful investment in our people and in the infrastructure that we need to deliver on our mission of driving change in Canadian banking to enrich people's lives."
"Most of all, we're proud to have a permanent home where we can continue empowering Canadians with the banking services they deserve."
In the first quarter of 2025, EQB reported $116 million in net income, an increase of 7% year-over-year and 11% from the prior quarter. Adjusted revenue rose to $323 million, up 8% from a year earlier, supported by growth in residential and commercial lending.
Read more: EQB's loan growth drives Q1 2025 earnings, credit reserves climb
The bank’s total assets under management and administration grew to $132 billion, up 11% from Q1 2024. EQB also reported $4.3 billion in multi-unit residential loan originations in 2024, funding 170 properties across Canada. In addition, the bank issued a $735 million social covered bond, the first by a Canadian bank to be specifically tied to social and affordable housing development.
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