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Equitable Group Inc. Equitable Bank EQ Bank News Release Equitable Reports Record Full - Year and Q4 2020 Earnings Canada's Challenger Bank ™ Continues Growth and Diversification Trend Toronto , Ontario ( February 22 , 2021 ) : Equitable Group Inc. ( TSX : EQB and EQB.PR.C ) today reported all - time record fourth quarter and annual earnings for the period ended December 31 , 2020 that reflected deliberate steps taken by Equitable Bank ( " Canada's Challenger Bank ™ ) to enrich people's lives and position itself for above - market value creation in the years ahead , while helping those in need during the pandemic . Q4 Earnings Best Ever • • Q4 diluted EPS up 29 % y / y to $ 4.13 from $ 3.21 ( and up 24 % to $ 3.98 adjusted ¹² ) Q4 ROE 18.2 % ( 17.5 % adjusted ) , up from 15.9 % ( 15.9 % adjusted¹ ) in Q4 2019 High - Quality Asset Growth with Leading Efficiency and Strong Risk Management • • Loans Under Management up 7 % to $ 33.3 billion Q4 loan originations up 18 % y / y to $ 3.2 billion • CET1 Ratio 14.6 % , above last year by 1.0 % • Strong YTD Operating Leverage² at + 4.7 % y / y 2020 Caps Decade of Superior Performance 2020 Earnings Best Ever • 2020 diluted EPS up 8 % to $ 12.95 from $ 11.97 in 2019 ( and up 3 % to $ 12.66 adjusted 1,2 ) • EPS CAGR 10.9 % and 14.0 % over 5 and 10 years • ROE 15.4 % and 16.6 % over 5 and 10 years Book value CAGR 14.9 % and 15.4 % over 5 and 10 years • 2020 ROE 14.8 % ( 14.5 % adjusted ¹ ) compared to 15.5 % ( 15.9 % adjusted 1,2 ) in 2019 • Book value up 12 % or $ 10.29 to $ 93.35 per share ( and up $ 4.10 in Q4 ) • Loans Under Management CAGR 14.8 % and 15.1 % over 5 and 10 years " Equitable now serves over a quarter million Canadians who look to us to deliver a better experience through our growing best - in - class digital bank platform and our diverse personal and commercial banking services . In 2020 , motivated by our purpose to enrich people's lives , we made significant strides in all of these areas . For EQ Bank , new digital account openings increased 82 % , deposits soared 71 % and customer engagement measured by regular monthly service usage grew on the strength of new , high - value services . Momentum has continued into 2021 as account openings are increasing by the hundreds every day . Our lending businesses also produced great results with strong growth momentum and market share gains capping the year . With high - quality assets under management of almost $ 36 billion , twice as large as it was five years ago , and the built - in cost advantage of our digital , branchless operation , Equitable set earnings records for the year and in each of the last two quarters . With good reason , we believe Canada's Challenger Bank has a very bright future , " said Andrew Moor , President and Chief Executive Officer . 1 Excludes net mark - to - market gains on certain security investments , loans , and derivative positions of $ 3.5 million and $ 6.6 million in Q4 2020 and full year 2020 , respectively . 2 See Non - Generally Accepted Accounting Principles Financial Measures . 1