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Home Capital Says Its Future Is Uncertain Amid Run on Deposits | Tony Seruga
May
11

Home Capital Says Its Future Is Uncertain Amid Run on Deposits

By
  • ’Material uncertainty exists regarding funding capabilities’
  • Mortgage lender to address analysts on conference call Friday

Woes at Home Capital Group Inc., the embattled Canadian lender facing a run on deposits and a regulator investigation, mount as the company said it’s unsure of funding abilities while announcing first-quarter results.

“Material uncertainty exists regarding the company’s future funding capabilities as a result of reputational concerns that may cast significant doubt” on the ability to continue operations, Home Capital said in a statement Thursday. “Management’s focus is on finding more sources of funding in the near term so we can be more active serving our customers, and on seeking longer-term solutions that put the business back on track,” interim Chief Executive Officer Bonita Then said…

Home Capital Says Its Future Is Uncertain Amid Run on Deposits

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