May 8, 2017 / 11:28 AM / 7 months ago

Home Capital says high-interest accounts balance halves, suspends dividend

May 8 (Reuters) - Home Capital Group Inc, Canada’s biggest non-bank mortgage lender, said the balance in its high-interest savings accounts (HISA) is expected to slump to about C$192 million ($140 million) on Monday, down 50 percent from a week ago.

The company also said it had suspended its dividend and that it had again tapped its C$2 billion credit line.

Home Capital said it has now withdrawn a total of C$1.4 billion, including a draw down of C$1 billion a week ago.

Home Capital has suffered a crisis of confidence since a securities regulator alleged earlier this year that the company’s top executives hid mortgage broker fraud from investors. ($1 = C$1.37) (Reporting by John Benny; Editing by Savio D‘Souza)

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