Equitable Group

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Contracting.

The thing that they always do at the Blur event tailgate is they have...

Mm-hmm.

Say you should go use RBC, uh, for your credit card, uh, or you should go use a lesser-known bank in Canada called EQ Bank, uh, that had-

Mm

... weaker equity.

And one development that ins- that, uh, is indicative of that is the most recent, um, social bond.

Equitable Bank issued Canada's first social covered bond.

And I know this morning we talked about maybe not calling it a social bond.

It's a covered bond.

Not all banks in Canada work as a bin sponsor bank.

There's actually People's Trust, EQ Bank are probably the two biggest that are helping fintechs by working alongside them.

And that's actually a really fast way to innovate is through a BaaS infrastructure.

But not every bank is willing to put their name on the line to partner with a fintech.

And the scale isn't largely here.

PowerCorp is a phenomenal place to get funding.

I would say like Wealthsimple, EQ Bank and others are part of their portfolio.

But without them, there isn't a lot of other funding, let's say within the ecosystem.

So the question sometimes comes up is, well, wait a second, Ron, then, why are the big banks prevented from doing this lending that Grant's talking about, that I'm talking about? This sort of base, you know, sort of business income lending, why? Well, good question.

The real reason is that Banks like grants or like Equitable Bank, EQ Bank, or like HomeTrust, they have developed an entire business system around this.

They accept closer scrutiny from the regulator.

They accept the fact that they've somewhat...

They have to... watched everything they do internally with great care they still you you still turn down loans yeah so does home trust so does eq bank you know this it's not a free-for-all no but the regulator knows this if it wasn't for companies like wealth one and home trust and eq bank There's just a category of self-employed people we prevented from owning homes, okay? So they're okay with a select number of banks working in this space, and they're okay in telling the big banks who control 87% of all the financial transactions in this country, these six big banks, okay? Think about that for a minute, folks.

87% of all the financial transactions in a country are six banks, okay? Because even if you think it's not that bank, if there's a label in front of it like tangerine, it's really a big bank is doing it, right? When you're doing business with Canadian Tire Bank, I mean, there is somebody in the background handling the transactions.

So the idea that even the regulator accepts that they can't, beat the life out of entrepreneurs and business owners in Canada that they there has to be a method for those people to get them get a mortgage but Ron I also want to call it like

And so therefore, the Canadian banks for me just aren't really that exciting.

I will quickly say that if you did force me to pick one that I was the most interested in today, it would be Equitable Bank, EQ Bank.

Mm-hmm.

So that one recently bought the financial assets of Loblaws, PC Financial, and they've kind of, like, incorporated that into the company.

So they're going to have, you know, EQ Bank, you know, branches, call it that, inside Loblaws stores.

You know, kinda like things like that.

And I think that's an interesting growth platform for them.

We also have our drive of the game and a couple other stats as well I want to get to.

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Standard Contracting.

Also, big red overreaction after the game with myself and young Matt.

This time it does not have any weird font that goes along with it, at least not that I saw in a graphic.

I received this in a very normal manner in my, in my Equitable Bank inbox.

They say, "Big Ten statement on officiating in Maryland-Nebraska game.

With 6:35 remaining in the fourth quarter of Saturday's Maryland-Nebraska game, Big Ten officials incorrectly officiated Nebraska's final PAT attempt.