DBRS Morningstar: Home Capital Group Inc. Reports Solid Q3 2019 Earnings Highlighting Strong NIM Expansion
Home Capital Group Inc. (HCG or the Group) reported Q3 2019 net income of $39.0 million, a 22% improvement quarter over quarter (QOQ), the highest level of earnings since the Group’s liquidity crisis in 2017. HCG benefited from continued expan-sion in the net interest margin (NIM) and steady growth in originations, all while maintaining sound asset quality. HCG continues to increase its proportion of directly sourced deposits and has further diversified funding sources through the issu-ance of residential mortgage-backed securities (RMBS), which DBRS Limited (DBRS Morningstar) views positively.
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