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Equitable Bank expands in Alberta with bigger offices, hires

by Steve Randall on 25 Oct 2019

The bank and mortgage lender that styles itself as ‘Canada’s Challenger Bank’ is preparing for strong growth in Alberta.

Equitable Bank cut the ribbon on a new 6,000 square foot office at 906 12th Avenue, SW, in Calgary this week as it prepares for anticipated growth in Western Canada which will include increased headcount in Alberta.

"The rapid growth we've seen at EQ Bank is proof that Canadians are hungry for a better banking solution—one that rethinks banking, and makes it simpler and faster,” said president and CEO Andrew Moor. "We are here to create more jobs, form new partnerships, and put more money back in the hands of Albertans."

Equitable has seen rapid expansion of its mobile-first digital banking platform EQ Bank which launched in 2016 and has seen $2.5 billion in deposits in its first three years.

The bank also recently launched The Equitable Reverse Mortgage which enables qualifying Albertans to convert a portion of their home equity into cash on a tax-free basis, while remaining in their principal residence.

"Our expansion in Calgary is a big milestone in our more than 10 years of history in Alberta," says Mike Wolfe, Regional Vice President, Equitable Bank. "In 2006, the bank established its Calgary office with five employees and has been growing consistently ever since. We get Albertans, because we are Albertans. With more than two dozen Calgarians on our staff today, we're excited to make a formal mark on the city with our logo proudly displayed on the new building. We're looking forward to continuing to challenge ourselves in Alberta through innovation and customer offerings."

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