EQB to acquire President's Choice Financial from Loblaw Companies for $800m.

EQB, a digital financial services company, agreed to acquire President's Choice Financial, a Canadian banking brand, from Loblaw Companies, a Canada's food and pharmacy retailer, for $800m. "Today's announcement marks a new era for banking in Canada. By combining EQ Bank's exceptional digital platform and product shelf with PC Financial's spending solutions, distribution and expertise in loyalty, we're creating a better banking ecosystem for all Canadians that prioritizes innovation and value. Fueled by our combined digital strengths and new ways to connect with customers, this transaction offers a unique opportunity for Canada's Challenger Bank to redefine what Canadians should expect from their banks. We couldn't be more excited to bring challenger banking to more Canadians and look forward to welcoming Loblaw as a shareholder and valued long-term partner," Chadwick Westlake, EQB President and CEO.