How Canada’s 7th largest bank aims to go from unknown initials to a household name
BNN Bloomberg
Canada’s seventh-largest bank is a lender the vast majority of Canadians have never heard of. It has no branches, credit cards or wealth management offerings.
That could all soon change, says Chadwick Westlake, who became chief executive of EQ Bank last August and already announced a transformational, potentially career-defining deal to buy PC Financial in December.
“We will become a household name by the end of this year,” he said.
Buying the PC Mastercard portfolio and PC Money accounts, while bringing on Loblaw Cos. Ltd. and its PC Optimum loyalty program into a partnership, will put the EQ Bank brand into thousands of grocery stores and ATMs across the country.
Westlake said he knew when he stepped into the role that he had to make this deal happen to raise the profile of a bank that 80 to 90 per cent of Canadians don’t know.
“This was a top priority, because I truly believe this is the key to creating a scaled significant challenger for Canada. There’s no deal like this,” he said in an interview.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
Jay Allen is a fan of U.S. President Donald Trump, and voted for him on the belief that the Republican would cut taxes and trim regulations, helping his manufacturing business in northeast Arkansas.
Another climb for oil prices sent the U.S. stock market sharply lower, as hopes collapsed for a possible cut to interest rates by the Federal Reserve.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Facing a $1.4 billion deficit shortfall, the provincial government says its large-animal vet service will be privatized over the next three years.
Facing a $1.4 billion deficit shortfall, the provincial government says its large-animal vet service will be privatized over the next three years.
Jurors wade through daunting evidence in high-stakes Meta trial about social media risks to children
A stream of testimony and evidence has been presented in a New Mexico case exploring what Meta knew about the effects of its platforms on children.
Markets in Canada and the U.S. continued to trade lower while oil went up late morning on Friday as inflationary fears prevailed among investors.
Gold prices fell by 1.8 per cent on Friday as the dollar strengthened on a report that the United States will deploy extra troops in the Middle East, fanning concerns of higher oil prices, inflation, and with it, elevated interest rates.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
Statistics Canada says retail sales were up 1.1 per cent at $70.7 billion in January, led by sales at motor vehicle and parts dealers.
As Qatar reels from an Iranian attack that has hobbled its giant natural gas company, its boss, who doubles as the country’s energy minister, says he had warned officials and executives of just such a danger should Iran’s own sites be hit.