# Equitable and Concentra Raise Prime Lending Rates to 4.70%

The Canadian banks said the quarter-point increases take effect October 29.

By Will Langan | 24X7 News
Published: 2026-10-28T22:07:18.447Z
Updated: 2026-10-28T22:07:18.447Z
Section: Money
Format: News
Canonical: https://24x7news.us/articles/equitable-concentra-prime-rate-increase-october-28-2026

Equitable Bank announced October 28 that it will increase its prime lending rate to 4.70% from 4.45%, effective October 29, 2026.

Its wholly owned subsidiary Concentra Bank will make the same change on the same date, according to the bank's announcement. Each increase amounts to 25 basis points, or one-quarter of a percentage point.

The announcement identifies the institutions' prime lending rates. It does not announce a change to a U.S. benchmark rate or provide individualized borrowing terms.

Equitable Bank is a Canadian bank owned by EQB Inc., which trades on the Toronto Stock Exchange. The group operates the EQ Bank brand and provides personal and commercial banking services in Canada.

Sources
Equitable Bank prime-rate announcement, October 28, 2026.

## Sources
- Equitable Bank: Prime Lending Rate Increase: https://www.prnewswire.com/news-releases/equitable-bank-increases-prime-rate-302922747.html