Home Capital Group Updates February 2018 Financial Data

TORONTO, April 18, 2018 /CNW/ - Home Capital Group Inc. ("Home Capital" or the "Company") (TSX: HCG) announced today it has filed updated Consolidated Monthly Balance Sheet data as at February 28, 2018 with the Office of the Superintendent of Financial Institutions (OSFI) for its subsidiary Home Trust Company to principally correct an inadvertent classification error between insured and uninsured residential mortgage balances.

Home Trust files certain financial data monthly as required by OSFI that is available on the OSFI website at www.osfi-bsif.gc.ca/Eng/wt-ow/Pages/FINDAT-tc.aspx.

The table below compares Home Trust's insured and uninsured residential mortgage balances as at February 28, 2018 as originally filed with OSFI and as refiled to correct the classification error:

(000's)	February 28, 2018
	as refiled(1)	as originally filed
Residential - Insured	3,486,444	4,559,454
Residential - Uninsured	9,774,518	8,700,906
Residential Total	13,260,962	13,260,360

1.     Refiled figures are in the process of being updated on the OSFI website.

 

For illustrative purposes, Home Trust's insured and uninsured residential mortgage comparative balances as at January 31, 2018 and as at February 28, 2018 (as refiled) are provided below:

(000's)	February 28, 2018	January 31, 2018
	as refiled(1)	as filed
Residential - Insured	3,486,444	3,575,371
Residential - Uninsured	9,774,518	9,763,130
Residential Total	13,260,962	13,338,501

1.     Refiled figures are in the process of being updated on the OSFI website.

 

About Home Capital Group

Home Capital Group Inc. is a public company, traded on the Toronto Stock Exchange (HCG), operating through its principal subsidiary, Home Trust Company. Home Trust is a federally regulated trust company offering residential and non-residential mortgage lending, securitization of insured residential first mortgage products, consumer lending and credit card services. In addition, Home Trust offers deposits via brokers and financial planners, and through its direct to consumer deposit brand, Oaken Financial. Home Trust also conducts business through its wholly owned subsidiary, Home Bank. Licensed to conduct business across Canada, Home Trust has offices in Ontario, Alberta, British Columbia, Nova Scotia, Quebec and Manitoba.

SOURCE Home Capital Group Inc.

Copyright 2018 Canada NewsWire