Reuters logo
22 days ago
BRIEF-Home capital provides update on Q2 2017 expenses and GIC deposit inflows
June 29, 2017 / 10:40 AM / 22 days ago

BRIEF-Home capital provides update on Q2 2017 expenses and GIC deposit inflows

1 Min Read

June 29 (Reuters) - Home Capital Group Inc

* Home capital provides update on Q2 2017 expenses and GIC deposit inflows

* Says estimates Q2 2017 operating results will include impact of increased expenses totaling approximately $175 million​

* Q2 2017 increased costs include asset impairment charge and restructuring costs of $15 million, costs related to OSC matter & related class action $8 million

* Says ‍Q2 2017 increased costs include $210 million​incremental costs incurred in connection with liquidity event

* Says ‍the expenses are in addition to normal operating costs and will result in a net loss in Q2​

* Most of costs associated with actions against "serious liquidity event" in late april will be reflected in results for Q2 Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below