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Earnings

EQB reports fourth quarter and fiscal 2025 results

By The Northwire Desk — AI Analysis Dec 03, 2025 · 17:10 EQB · 86.85 EQB INC.
EQB · Price

Executive Summary

  • EQB Inc. reported FY 2025 adjusted diluted EPS of $8.90 (‑19% YoY) and adjusted net income of $354.2 M (‑19% YoY), with a $92 M pre‑tax restructuring charge in Q4.
  • Adjusted ROE improved to 11.3% for the year, while the efficiency ratio fell to 50.9%, indicating better cost control.
  • The company declared a higher common share dividend of $0.57 per share and repurchased ~1.02 M shares under its NCIB; it also announced an acquisition of PC Financial and a strategic partnership with Loblaw.

Key Details

  • Financial Performance (Adjusted)
  • Q4 Adjusted Diluted EPS: $1.53 (‑39% YoY) vs. reported $(0.25).
  • FY 2025 Adjusted Diluted EPS: $8.90 (‑19% YoY) vs. reported $6.65.
  • Adjusted Net Income Q4: $63.5 M (‑37% YoY); FY 2025: $354.2 M (‑19% YoY).
  • Adjusted PPPT Q4: $143.1 M (‑17% YoY); FY 2025: $617.7 M (‑11% YoY).
  • Adjusted ROE Q4: 7.5%; FY 2025: 11.3% (reported 8.5%).

  • Adjusted Revenue Q4: $308.1 M (‑4% YoY); FY 2025: $1.26 B (‑1% YoY).

  • Restructuring Charge

  • Total pre‑tax charge of $92 M in Q4, comprising $22.7 M severance and $69.3 M non‑operating asset impairments.

  • Capital & Liquidity

  • CET1 ratio: 13.3%; total capital ratio: 15.8%.
  • Book value per share increased 5% YoY to $81.31.

  • Total AUM/AUA: $138 B (+9% YoY).

  • Lending Activity

  • Loans under management grew 10% YoY; Commercial LUM +20% YoY, with >80% insured.

  • Personal unsecured portfolio up 4% YoY; reverse‑mortgage/insurance lending +36% YoY to $2.9 B.

  • EQ Bank Highlights

  • Deposits near $10 B (up 10% YoY); customers 607,000 (+18% YoY).
  • Launched Business Banking platform in Q4; received strong market reception.

  • Named top banking brand in Canada and North America by The Banker.

  • Dividend & Share Repurchase

  • Declared common share dividend $0.57 per share (payable Dec 31, 2025), a 16% increase YoY.

  • Purchased/cancelled 1,023,748 shares under NCIB; intends to renew NCIB in FY 26.

  • Strategic Transactions

  • Announced acquisition of PC Financial and strategic partnership with Loblaw (subject to regulatory approvals).

  • Provisioning & Credit Quality

  • Adjusted provision for credit losses FY 2025: $132 M (reported $137 M).

  • Net allowance for credit losses: 41 bps of total loan assets (up from 32 bps Q4 2024).

  • Conference Call

  • Management call scheduled for Dec 4, 2025 at 10:30 a.m. ET; webcast available at eqb.investorroom.com.

Notable Quotes

“Fiscal 2025 was a difficult year… the one‑time restructuring program… significantly improves our cost structure and creates a foundation for better efficiency, operating leverage and ROE.” – Chadwick Westlake, President & CEO

“Our three financial priorities for fiscal 2026: drive growth, thoughtfully manage expenses and maintain strong risk management practices.” – Anilisa Sainani, CFO

Read the original news release →

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