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Assets under management ( AUM ) + 13 % y / y Record $ 40.2 billion ● Equitable Group Inc. Equitable Delivers on Ambitious 2021 Growth Agenda in Q3 with Record Quarterly Conventional Loan Growth and AUM Exceeding $ 40 Billion Canada's Challenger Bank ™ Provides First Outlook for 2022 - Continued Momentum Toronto , Ontario ( November 2 , 2021 ) : Equitable Group Inc. ( TSX : EQB and EQB.PR.C ) ( Equitable or the Bank ) today reported substantial growth in conventional loans and deposits for the three and nine months ended September 30 , 2021 as Equitable Bank ( Canada's Challenger Bank ™ ) delivered to plan , served its purpose of driving change that enriches the lives of Canadians and laid the groundwork for a very positive 2022 performance outlook . Equitable Bank Conventional loans + 22 % y / y to $ 19.4 billion Alternative single - family originations 3x higher y / y Reverse mortgage assets + 259 % y / y ● 1 ● EQ Bank deposits + 60 % y / y to $ 6.9 billion Customers increased 60 % y / y to 237,000 EQ Bank ● Market share gains from channel strategy CETI ratio of 13.7 % , 0.7 % above 13.0 % target floor Excess capital $ 88 million or $ 5.17 / share Q3 digital transactions + 74 % and YTD + 99 % y / y News Release Q3 earnings -2 % y / y to $ 72.5 million ● Diluted EPS -4 % y / y to $ 4.14¹ , with half of the decline due to an increase of 2 % in shares outstanding 1 ● Q3 2020 was elevated with higher gains on sale and reduced expenses at that point of the pandemic Q3 ROE 16 % , within 15-17 % target YTD Q3 16.6 % despite the impact of excess capital YTD earnings + 39 % y / y to $ 212.5 million , diluted EPS + 38 % to $ 12.15¹ ● Book Value per share + 19 % y / y to $ 105.80¹ Exceeding target of 12-15 % growth Q3 Efficiency ratio 41.6 % " Three quarters of consistent performance put us within striking distance of achieving our elevated growth targets for 2021 and provide clear evidence that Canadians prefer a digital - first Challenger Bank experience . Through our expanding fintech services , EQ Bank is establishing itself as the everyday hub where Canadians can conveniently perform their most important transactions quickly while saving more money for the future . We are particularly pleased that deposits in our new EQ Bank US Dollar Account surpassed our full - year growth ambitions in just over one quarter . In lending , the story is the same . We are challenging and driving positive change such that conventional loan principal increased $ 1.7 billion or 9 % from Q2 , and $ 3.5 billion or 22 % year over year . A clear highlight within our conventional business is single - family originations which were three - fold higher than last year due to our leadership of the alternative lending market . For our shareholders , the future is bright . By allocating more capital to higher - return but risk - managed conventional loan assets , which accounted for 73 % of originations to date this year and adding a covered bond program in Q3 to reduce future funding costs , we are on pace for record earnings and our outlook for 2022 is positive , " said Andrew Moor , President and Chief Executive Officer . YTD 40.3 % , compared to 39-41 % 2021 target On a post stock split basis , diluted EPS for Q3 and YTD were $ 2.07 and $ 6.08 , respectively , Book value per share was $ 52.90 .