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UPDATE 2-Home Capital Q3 profit tops Street, shares hit yr-high

Thu Nov 5, 2009 12:38am IST
 
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* Q3 shr C$1.10 vs est C$0.98

* Comfortable with 30 pct profit growth for Q4: CEO

* Sees slow decline in net impaired loans

* Sees significant increase in securitization volumes

* Shares rise 6 pct to year-high

(Recasts; adds conference call details, updates stock movement)

BANGALORE, Nov 4 (Reuters) - Canada's Home Capital Group Inc (HCG.TO: Quote, Profile, Research) posted a better-than-expected quarterly profit, helped by higher loan originations, and the mortgage lender boosted its dividend for the third time this year.

The company is very comfortable with a 30 percent profit growth for the rest of the year, but not a higher number, Chief Executive Gerald Soloway said on a conference call with analysts.

"As we look out over the next few quarters, we see continued significant growth in future net interest income," he added.  Continued...

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