TORONTO - EQB Inc. says it completed its PC Financial acquisition on Wednesday.
In conjunction with the deal, EQB says two Loblaw nominees, George Weston Ltd. CEO Galen Weston and Loblaw CFO Richard Dufresne, will join its board of directors.
EQB said it would acquire PC Financial in December and that it would pay $800 million in shares and cash, while Loblaw would take about a 16 per cent stake in the bank and EQ would become the exclusive financial partner of the PC Optimum loyalty program.Â
In the coming months, EQB and Loblaw will begin to transition PC Bank clients to the EQB Bank platform.Â
EQB says there will be no immediate changes regarding the banking experience for PC Bank customers.Â
The PC Optimum program will also continue to be owned and operated by Loblaw. Â Â Â
This report by The Canadian Press was first published July 2, 2026. Â
Companies in this story: (TSX: EQB)Â
/2d%20illustration%20of%20Cloud%20computing%20by%20Blackboard%20via%20Shutterstock.jpg)
/Elon%20Musk%2C%20founder%2C%20CEO%2C%20and%20chief%20engineer%20of%20SpaceX%2C%20CEO%20of%20Tesla%20by%20Frederic%20Legrand%20-%20COMEO%20via%20Shutterstock.jpg)
