Home Capital sees uncertainty over ability to continue

Toronto

HOME Capital Group, Canada's biggest non-bank lender, said on Thursday that uncertainty around its future funding capabilities had cast doubt about whether it would be able to continue as a going concern.

The company made the admission alongside first quarter results which showed its adjusted earnings per share, which exclude one-off items, rose to C$1.02 in the first quarter from C$0.96 in the same period the year before, in line with guidance it gave last month.

"Management believes that material uncertainty exists regarding the company's future funding capabilities as a result of reputational concerns that may cast significant doubt upon the company's ability to continue as a going concern," Home Ca…