Oct 16 (Reuters) - Canadian mortgage lender Home Capital Group Inc HCG.TO said on Monday it would sell its payment processing and prepaid card business.
The sale, which also includes Home Capital's payment services interactive gateway units, is expected to generate about C$20 million ($15.97 million) in annual savings, the lender said. Capital said it expects a reduction in fee and other income of about C$18 million due to the sale.
The deal is expected to close in 2017, the company said, without identifying the buyer. ($1 = 1.25 Canadian dollars)