trending Market Intelligence /marketintelligence/en/news-insights/trending/7gnbE88E0w52I7RrVvn1Zg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Home Capital Q2 profit up YOY; expects real estate market to support growth

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible


Home Capital Q2 profit up YOY; expects real estate market to support growth

Toronto-based Home Capital Group Inc. reported second-quarter adjusted net income of C$34.7 million, or 58 Canadian cents per share, an increase from C$29.6 million, or 37 cents per share, in the year-ago period.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was 52 cents.

On a GAAP basis, the bank recorded a year-over-year increase in its net income to C$31.9 million, or 53 cents per share, from C$29.6 million, or 37 cents per share.

Net interest margin on a taxable equivalent basis for the second quarter was 2.09%, both representing increases from 2.01% in the previous quarter and 1.91% in the year-ago period. Net interest income on a taxable equivalent basis increased year over year to C$97.5 million from C$84.1 million.

Total loans at the end of the second quarter were C$16.84 billion, compared with C$16.68 billion in the previous quarter and C$15.45 billion in the second-quarter of 2018.

Deposits at the end of the quarter stood at C$13.51 billion, compared with C$13.57 billion in the previous quarter and C$12.50 billion in the year-ago period.

Home Capital Group expects conditions in the Canadian real estate market to continue to support its growth for the rest of 2019. The company said current and expected levels of housing activity point to a relatively stable real estate market overall, particularly in the company's Greater Toronto area market.

It also expects the Bank of Canada overnight interest rate to be stable for the rest of the year, debt service levels of Canadian households to be manageable and anticipates stable employment conditions in its established regions.