TORONTO — EQB Inc. reported adjusted net income of $78.3 million during the second quarter, down from $94.2 million during the same period last year.

On a diluted per-share basis, that amounted to adjusted earnings of $2.03, compared with $2.31 during the prior year quarter.

The owner of EQ Bank says its adjusted net interest income came in at $260.7 million during the three months ended April 30, down year-over-year from $278.1 million.

EQB posted adjusted revenue of $302.4 million, compared with $315.9 million during last year’s second quarter.

Chadwick Westlake, chief executive of EQB, says the business will meaningfully shift with the expected July 1 close of its PC Financial transaction.

Earlier this month, EQB secured its final regulatory approval to buy PC Financial from Loblaw Cos. Ltd., clearing the way for the transformative deal.

This report by The Canadian Press was first published May 27, 2026.

Companies in this story: (TSX:EQB)

The Canadian Press