As shares of EQB Inc., the owner of EQ Bank, are trading higher following its latest earnings release, the firm’s top executive says it’s outperforming major banks publicly listed in both Canada and the U.S. 

As of Wednesday afternoon, shares for the Toronto-based firm were trading more than four-per-cent higher, exceeding $80 per share. EQB released its earnings for the second quarter on Tuesday, where it said it earned $130.9 million during the quarter, up from $58.8 million during the same period last year. 

Andrew Moor, the president and chief executive officer of Equitable Bank, said in an interview with BNN Bloomberg Wednesday that the bank had higher shareholder returns when compared to major banks.

“If you look at all the banks listed on the S&P 500 Index and the S&P/TSX Composite Index, we have had the highest total shareholder return over the last 10 years. So ahead of Goldman Sachs, ahead of Bank of America, ahead of Morgan Stanley even,” Moor said. 

Moor said the company grows its dividend between 20 and 25 per cent each year.

Additionally, he stated the company retains about 90 per cent of its earnings, which “grow the book value and the earnings of the bank.”

“So what that implies with a 17 per cent ROE [return on investment] is that we're growing our earnings and book value at about 15 per cent a year compound and we've done that for the last decade,” Moor said. 

“That's why we believe we've been outperforming the market. So it's a very good investable thesis, I think for investors that take a take a longer term view.”

With files from The Canadian Press.