September 17, 2009 / 6:42 PM / in 8 years

UPDATE 1-Home Capital says Canada real estate mkt improving

* Says benefited by withdrawal of U.S. companies

* CEO says no interest in going into foreign markets

* Home Capital says does not rule out acquisitions

TORONTO, Sept 17 (Reuters) - The chief executive of Home Capital Group Inc HCG.TO, which mainly underwrites residential mortgages, said on Thursday the Canadian real estate market is on the mend.

Home Capital’s Gerald Soloway told a conference hosted by Scotia Capital in Toronto that the company is primed for growth after key U.S. competitors abandoned the market in the wake of the global financial crisis.

“We will proceed to grow organically, but we do not rule out an acquisition that would enhance our skills or ability to serve our market place,” Soloway said at the conference.

“At Home Capital, we believe the real estate market is improving,” said Nick Kyprianou, the company president.

Home Capital reported a better-than-expected quarterly profit in August, backed by higher loan originations, allowing it to raise its quarterly dividend by 7 percent.

$1=$1.06 Canadian Reporting by Pav Jordan and Andrea Hopkins; editing by Rob Wilson

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