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BRIEF-Home Capital Provides Update On Strategic Review Of Consumer Retail Loan Portfolio

Published 2019-12-11, 07:04 a/m
Updated 2019-12-11, 02:15 p/m
© Reuters.  BRIEF-Home Capital Provides Update On Strategic Review Of Consumer Retail Loan Portfolio

Dec 11 (Reuters) - Home Capital Group Inc HCG.TO :

* HOME CAPITAL PROVIDES UPDATE ON STRATEGIC REVIEW OF CONSUMER RETAIL LOAN PORTFOLIO

* HOME CAPITAL GROUP INC - COMPLETED A STRATEGIC REVIEW OF ITS CONSUMER RETAIL LOAN PORTFOLIO

* HOME CAPITAL GROUP INC - DETERMINED THAT POINT-OF-SALE RETAIL LENDING BUSINESS IS CONSIDERED NON-CORE

* HOME CAPITAL GROUP INC - GROSS LOAN BALANCES OF ABOUT $84 MILLION WILL BE TREATED AS ASSETS HELD FOR SALE FOR ACCOUNTING PURPOSES

* HOME CAPITAL GROUP - ASSETS AND INCOME ASSOCIATED WITH POINT-OF-SALE BUSINESS ARE NOT MATERIAL TO CO'S FINANCIAL RESULTS

* HOME CAPITAL GROUP INC - HOME CAPITAL WILL CONTINUE TO OPERATE POINT-OF-SALE BUSINESS UNTIL A SUITABLE TRANSACTION CAN BE CONCLUDED

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