TORONTO, April 12, 2023 /CNW/ - EQ Bank has been named the best bank in Canada on the Forbes 2023 list of the World's Best Banks. This is the third year in a row that EQ Bank has been awarded best bank in Canada. EQ Bank is powered by Equitable Bank, Canada's Challenger Bank™ and the country's 7^th largest bank by assets.

"This recognition is extremely meaningful because it comes directly from our customers, who inspire us every day to deliver outstanding service and innovative banking solutions that provide them with great value," said Andrew Moor, President and CEO of Equitable Bank. "Challenging the status quo is in our DNA. We believe that Canadians deserve better, no-nonsense ways to manage their money and keep more of it in their pocket. Being rated the best bank in Canada three years in a row validates that we're on the right track."

The EQ Bank Savings Plus Account combines the benefits of a chequing and savings account—with no everyday banking fees, high interest on every dollar, unlimited number of free bill payments and free Interac e-Transfers®, and seamless international money transfers powered by Wise. The new EQ Bank Card also allows customers to withdraw cash for free at any ATM in Canada while earning cash back on their spending and high interest on their balance, with no EQ Bank foreign currency conversion fees. EQ Bank also offers top-of-market rates on GICs* as well as TFSA and RSP accounts that can be purchased with the tap of a button.

The World's Best Banks are selected based on surveys of more than 48,000 consumers representing 32 different countries. Participants in the global surveys were asked to rate every bank at which they have a chequing or savings account on overall recommendation and satisfaction, as well as rate the banks on five different criteria: Trust, Terms & Conditions, Customer Services, Digital Services, and Financial Advice. All credit institutions in Canada offering chequing and/or savings accounts were eligible to be considered for this recognition.

The World's Best Banks 2023 list was announced on April 11, 2023, and is presented by Forbes and Statista, the world-leading statistics portal and industry ranking provider. The final list recognizes the top 410 banks around the world and can be viewed on the Forbes website.

Equitable Bank—Canada's Challenger Bank™—is a wholly owned subsidiary of EQB Inc., which trades on the Toronto Stock Exchange (TSX: EQB) (TSX: EQB.PR.C) and serves more than 488,000 customers. Equitable Bank's wholly owned subsidiary Concentra Bank supports Canadian credit unions and their approximately 6 million members. With nearly $103 billion in combined assets under management and administration, Equitable Bank has a clear mandate to drive change in Canadian banking to enrich people's lives. Founded more than 50 years ago, Canada's Challenger Bank™ provides diversified personal and commercial banking, and through its digital EQ Bank platform (eqbank.ca) has been named a top bank in Canada on the Forbes World's Best Banks 2023, 2022 and 2021 lists. Please visit equitablebank.ca for more details.

SOURCE Equitable Bank