TORONTO, Feb. 1, 2018
/CNW/ - Home Capital Group Inc. ("Home Capital" or "the Company")
(TSX: HCG) today announced the successful completion of the
previously announced agreement with a third party to sell the
Company's payment processing and prepaid card business including
its Payment Services Interactive Gateway (PSiGate)
subsidiaries.
As part of the agreement, Home Capital has agreed to enter
into a transition services agreement and will continue to provide
services for certain clients for up to a year, at which
time the Company will have completely exited this
business line.
Caution Regarding Forward-looking
Statements
This press release contains
forward-looking information within the meaning of applicable
Canadian securities legislation. Please refer to Home Capital's
2016 Annual Report, available on Home Capital's website at
www.homecapital.com, and on the Canadian Securities Administrators'
website at www.sedar.com, for Home Capital's Caution Regarding
Forward-looking Statements.
About Home Capital Group Inc.
Home Capital Group Inc. is a public company, traded on the Toronto
Stock Exchange (HCG), operating through its principal subsidiary,
Home Trust Company. Home Trust is a federally regulated trust
company offering residential and non-residential mortgage lending,
securitization of insured residential first mortgage products,
consumer lending and credit card services. In addition, Home Trust
offers deposits via brokers and financial planners, and through its
direct to consumer deposit brand, Oaken Financial. Home Trust also
conducts business through its wholly owned subsidiary, Home Bank.
Licensed to conduct business across Canada, Home Trust has offices in Ontario, Alberta, British
Columbia, Nova Scotia,
Quebec and Manitoba.
SOURCE Home Capital Group Inc.
