Home Capital Group Reports Strong Originations for Q4 2021; Reinstates Quarterly Dividend
Home Capital Group Inc. (HCG or the Group) reported Q4 2021 net income of $52.7 million, a 4% decrease quarter over quarter (QOQ) related to a decline in net interest income and an increase in provisions for credit losses (PCL). HCG continued to experience a moderate decline in net interest margin, with a QOQ decline of 12 basis points (bps), as a result of a flattening of the decreasing trend in interest rates. Lower sequential expenses resulted in an improved efficiency ratio for the Group that declined by 140 bps to 45.9% in Q4 2021.Home Capital Group is a holding company that operates primarily through its principal subsidiary, Home Trust Company, which provides insured and uninsured deposits, residential and non-residential commercial mortgage lending and consumer lending. Co. also conducts business through its wholly owned subsidiary, CFF Bank, a Canadian retail bank. Co.'s subsidiary, Payment Services Interactive Gateway Inc. (PSiGate) provides payment card services. Licensed to conduct business across Canada, Home Trust has offices in Ontario, Alberta, British Columbia, Nova Scotia, Quebec and Manitoba.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.