Deposits were expected to have fallen to about C$134 million
following completion of Tuesday's settlements.
Depositors have withdrawn more than 90 percent of funds from
Home Capital's high-interest savings accounts since March 27,
when the company terminated the employment of former Chief
Executive Martin Reid.
The withdrawals accelerated after April 19, when Canada's
biggest securities regulator, the Ontario Securities Commission,
accused Home Capital of making misleading statements to
investors about its mortgage underwriting business.
The company, which is set to report its results after markets
close on Thursday, has said the accusations are without merit.
Home Capital relies on deposits from savers to fund its lending
to borrowers, such as self-employed workers or newcomers to
Canada, who may not meet the strict criteria of the country's
Last month, the company agreed to receive C$2 billion in
emergency funding from the Healthcare of Ontario Pension Plan (HOOPP).
It has so far drawn down C$1.4 billion from that facility.
The company said on Thursday its liquid assets stood at C$1.02
billion at the end of Wednesday, which, combined with the funds
not drawn down on the HOOPP credit facility, gives it access to
available liquidity and credit capacity of C$1.62 billion.
(Reporting by Arathy S Nair in Bengaluru; Editing by Saumyadeb
[© 2017 Thomson Reuters. All rights
Copyright 2017 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.