The Financial Post reports in its Thursday, Aug. 3, edition that Equitable Bank posted its best quarterly earnings per share in the second quarter as high interest rates push Canadians to look for alternatives to traditional banking. The Post's Denise Paglinawan writes that its adjusted net income in the second quarter jumped 88 per cent to $115.5-million and adjusted diluted earnings was up 70 per cent to $2.98 per share. Chief executive officer Andrew Moor said during Wednesday's earnings call, "It certainly is nice to see us outperforming all the leaders on Wall Street and Canada's largest banks." Equitable Bank's strong year-to-date performance allowed it to increase its 12-month earnings growth guidance, including diluted EPS guidance, to a range of 18 to 22 per cent from the previous guidance of 10 to 15 per cent. Adjusted revenue for the three months ended June 30 was up 72 per cent year-over-year to $284.6-million, led by lending growth, net interest margin expansion and higher non-interest revenue. EQ Bank, the on-line-only offshoot of Equitable, also reported a 50-per-cent year-over-year increase in adjusted net interest income to $251.7-million, exceeding analyst expectations.