Canadian mortgage lender Home Capital's profit falls 2 pct

Wed Jul 29, 2015 5:11pm EDT
 
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July 29 (Reuters) - Canadian mortgage lender Home Capital Group reported a 2 percent fall in quarterly profit, hurt by a fall in mortgage originations.

Earlier this month, the company said it terminated contracts with certain mortgage brokers, resulting in a decline in originations.

Home Capital's net profit slipped to C$72.3 million ($55.9 million), or C$1.03 per share, in the second quarter ended June 30, from C$73.7 million, or C$1.05 per share, a year earlier. ($1 = C$1.2943) (Reporting by Anannya Pramanick in Bengaluru and John Tilak in Toronto; Editing by Savio D'Souza)