May 1, 2017 / 11:47 AM / a year ago

BRIEF-Equitable Group reports Q1 earnings per share C$2.54

May 1 (Reuters) - Equitable Group Inc:

* Equitable group reports record first quarter 2017 results and continued solid credit performance

* Q1 earnings per share C$2.54

* Equitable group inc qtrly originations were $1.6 billion, 4pct higher than a year ago

* Equitable Group Inc - quarterly dividend of $0.23 per common share, a 10pct increase over dividends declared in May 2016

* Equitable Group Inc - bank expects arrears rates and credit loss provisions to remain low throughout remaining quarters of 2017

* Equitable Group Inc - at quarter-end, mortgages under management were $21.7 billion, compared to $17.7 billion a year ago, a 23pct increase

* Equitable Group Inc - anticipate that co’s mortgage application volumes will increase over coming weeks

* Equitable Group Inc - will not execute transactions to derecognize additional mortgages this year

* Equitable Group - to not execute transactions to derecognize additional mortgages, in light of reduced expectations for growth of insured prime business

* Q1 earnings per share view C$2.23 — Thomson Reuters I/B/E/S

* Equitable Group Inc - qtrly net interest income after provision for credit losses $77.6 million versus $63.4 million

* Equitable Group says actively monitoring house price and mortgage activity to ensure credit risk profile of business stays within risk appetite Source text for Eikon: Further company coverage:

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