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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, July 17, 2017 /CNW/ - Home Capital Group Inc. ("The Company" TSX: HCG) today reported its aggregate liquidity and credit capacity position as of July 14, 2017 has strengthened significantly since the last update on June 29, 2017.

The Company continues to source deposits through its deposit broker channel and Oaken, its direct to consumer channel, and has seen deposit inflows return to historical averages. Additionally, cash received from the completion of the sale of commercial mortgage assets, and other recent transactions previously announced, has added to the Company's liquidity position. Proceeds from the sale of assets were used to reduce the outstanding balance under the Company's $2 billion dollar line of credit with Berkshire Hathaway to $900 million outstanding as of July 14, 2017.

The Company's liquidity position is stable and the next update will be on August 2 with second quarter 2017 financial results.

Liquidity and Deposit Update

  • Aggregate available liquidity and credit capacity stood at approximately $2.57 billion including the undrawn amount of $1.1 billion under the Company's $2.0 billion credit facility with Berkshire Hathaway.

  • Home Trust High Interest Savings Account (HISA) deposit balances stood at approximately $104 million.

  • Total Guaranteed Investment Certificate (GIC) deposits, including Oaken and broker GICS, stood at approximately $12.27 billion and Oaken savings accounts stood at approximately $165 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)

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.

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 the 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/July2017/17/c4218.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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