DBRS Morningstar: Equitable Reports Consecutive Record Earnings for Q3 2019 Moderated by Growth in PCLs
Equitable Group Inc. (Equitable or the Group) reported a second consecutive quarter of record net income of $54.9 million in Q3 2019, which was up by 2% quarter over quarter (QOQ) as growth was moderated by increased provisions for credit losses (PCLs). The Group reported solid originations of $3.0 billion, while impaired assets saw some uptick. Meanwhile, Equitable’s funding profile benefited from growth in directly sourced deposits and its capital levels remain solid.
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