TORONTO – Equitable Bank says it has signed a deal to sell Bennington Financial Corp., its commercial equipment leasing and financing business, to Desjardins Group.
EQB CEO Chadwick Westlake says the sale helps the company further concentrate its capital and resources on its core growth priorities.
Westlake added that the sale also provides Bennington with an owner that is equipped to grow the business to its full potential with expertise in the sector.
Under the terms of the agreement, Desjardins will acquire Bennington at a price equivalent to a discount of about eight per cent of lease receivables.
The company said Bennington’s portfolio included about $1.1 billion in lease receivables at July 31.
EQB completed the acquisition of PC Financial earlier this year in a deal that added millions of new customers.
This report by The Canadian Press was first published Oct. 29, 2026.
Companies in this story: (TSX:EQB)
