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Home Capital Group Inc.

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Home Capital Provides Update On Liquidity and Deposits
Home Capital Provides Update On Liquidity and Deposits

Canada NewsWire

TORONTO, Aug. 2, 2017 /CNW/ - Home Capital Group Inc. ("Home Capital" or "the Company") (TSX: HCG) today reported its aggregate liquidity and credit capacity position as of August 1 and also provided an update on its deposit inflows.

Liquidity and Deposit Update

  • Aggregate available liquidity and credit capacity stood at approximately $3.94 billion including an undrawn $2.0 billion credit facility with Berkshire Hathaway. The reported  liquidity position  includes approximately $153 million in proceeds received from the initial equity investment by Berkshire Hathaway.

  • Deposit inflows returned to historical averages. Deposits continue to be sourced through the deposit broker channel and Oaken, a direct to consumer channel.

  • Home Trust High Interest Savings Account (HISA) deposit balances stood at approximately $126 million.

  • Total Guaranteed Investment Certificate (GIC) deposits, including Oaken and broker GICs, stood at approximately $12.48 billion and Oaken savings accounts stood at approximately $186 million.

AGGREGATE LIQUIDITY AND CREDIT CAPACITY AND DEPOSIT BALANCES


Aggregate Liquidity
and Credit Capacity
(C$ billions)

HISA
(C$ millions)

Oaken Savings
(C$ millions)

GIC
(C$ millions)

*GICs in a cashable
position

(C$ millions)

Aug 1

$3.94

$126

$186

$12,482

$147

July 14

$2.57

$104

$165

$12,274

$150

June 29

$1.53

$114

$157

$12,151

$146

*GICS in a cashable position are included in the total GIC deposit balances reported daily.

2017 AVERAGE DAILY GROSS GIC DEPOSITS FOR THE WEEKS ENDED
($) MILLIONS

July 28

$38

May 12

$4

July 21

$46

May 5

$5

July 14

$37

April 28

$16

July 7

$38

April 21

$32

June 30

$57

April 14

$30

June 23

$38

April 7

$29

June 16

$25

March 31

$25

June 9

$22

March 24

$30

June 2

$16

March 17

$38

May 26

$17

March 10

$38

May 19

$8

March 3

$41

 

Home Trust and Home Bank are members of CDIC.  Deposits with each are separately eligible for CDIC coverage up to applicable limits.

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 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.

View original content: http://www.newswire.ca/en/releases/archive/August2017/02/c7298.html

Investors: Laura Lepore, Assistant Vice President, Investor Relations, (416) 933-5652, laura.lepore@hometrust.ca; Media: Boyd Erman, Longview Communications Inc., (416) 649-8007, berman@longviewcomms.ca; Or Peter Block, Longview Communications Inc., (416) 649-8008, pblock@longviewcomms.caCopyright CNW Group 2017

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