Home Capital Group Inc. today announced strong financial results for the first quarter of 2007. The company says it experienced particularly strong asset growth, resulting principally from record residential mortgage origination levels, together with continued forward momentum in Equityline VISA, and the new commercial mortgage lending operation.The attractive lending climate across Canada, together with the […]
Subsidiary firms Investors Group and Mackenzie Financial also saw AUM increases
Declines reflect increasingly competitive conditions in global insurance and reinsurance markets
Sales revenue, net interest income, EBITDA all rise significantly
AUM increased by $3.9 billion in Canada during the quarter to $100.4 billion
European, British divisions see revenue increase, Canadian and U.S. divisions see decline
Total funds under management reach record of $426 billion
However, UBS says that its Q1 performance also shows the strength of the wealth management business
Gross and net premiums decrease year-over-year
Total AUA increased 22%; shareholders’ net income rose 88%