TORONTO, Feb. 1, 2018
TORONTO, Feb. 1, 2018 /CNW/ - Home Capital Group Inc. ("Home Capital" or "the Company") (TSX: HCG) today announced the successful completion of the previously announced agreement with a third party to sell the Company's payment processing and prepaid card business including its Payment Services Interactive Gateway (PSiGate) subsidiaries.
As part of the agreement, Home Capital has agreed to enter into a transition services agreement and will continue to provide services for certain clients for up to a year, at which time the Company will have completely exited this business line.
Caution Regarding Forward-looking Statements
This press release contains forward-looking information within the meaning of applicable Canadian securities legislation. Please refer to Home Capital's 2016 Annual Report, available on Home Capital's website at www.homecapital.com, and on the Canadian Securities Administrators' website at www.sedar.com, for Home Capital's Caution Regarding Forward-looking Statements.
About Home Capital Group Inc.
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.
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Laura Lepore, Assistant Vice President, Investor Relations, 416-933-5652, email@example.comCopyright CNW Group 2018