EQB Inc (TSX:EQB.PR.C.PFD)

C$ 25 (0%) Market Cap: - Enterprise Value: - PE Ratio: 10.48 PB Ratio: 1.21 GF Score: 79/100

Q4 2024 EQB Inc Earnings Call Transcript

Dec 5, 2024 / 03:30 PM GMT

Transcript

Key Points

Positve

EQB Inc (EQGPF) achieved record annual earnings of $438 million and a 10% year-over-year growth in book value per share.
The company reported a 47% year-over-year growth in its decumulation lending portfolio, highlighting strong demand from Canada's growing retiree population.
EQB Inc (EQGPF) successfully introduced Canada's first all-digital Notice savings account, attracting significant customer interest with balances nearing $900 million within five months.
The company experienced a 28% increase in EQ Bank customers year-over-year, reaching over half a million Canadians.
EQB Inc (EQGPF) maintained a strong capital position with a CET1 ratio of 14.3%, providing flexibility for future capital deployment.

Negative

The fourth quarter results did not meet expectations, primarily due to challenges in the equipment financing portfolio, which impacted earnings by approximately $0.30 per share.
The company faced a $16 million provision related to suspected irregularities in the Pride Group exposure, affecting the equipment financing segment.
There was a 40% increase in impaired commercial loans during the quarter, with one significant loan offsetting smaller resolved loans.
The personal loan book saw higher delinquencies, with single-family residential provisions reaching $3.8 million.
The equipment financing business faced challenges due to a North American recession affecting the long-haul trucking industry, leading to higher credit losses than anticipated.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

EQB.TO - EQB Inc
Q4 2024 EQB Inc Earnings Call
Dec 05, 2024 / 03:30PM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to EQ BS earnings call for the fourth quarter of 2024 on Thursday, December 5 2024. At this time, you are in a listen-only mode later, we will conduct a question and answer session for analysts instructions will be provided at that time.

It is now my pleasure to turn the call over to Michael Isic Managing Director of Investor Relations or EQB.

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Unidentified_2 [2]
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Thank you Jennifer. Good morning, everyone and welcome to EQB 's Q4 fiscal 2024 earnings call hosting. Today's call will be Andrew Moore, President and Chief Executive Officer and Chadwick Westlake,

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