RE:Yousry Bissada on BNN 4:10pmAs Yousry said in the call, the provisions were a result of harsher assumptions on several macro factors for their forward looking model. They continue to see low deliquency and write offs in their existing portfolio.
They said one of the macro assumptions in their model was drop in home prices....which is not the case so far so they are being really conservative
canader wrote:
-Home Capital Group posted double-digit profit growth for the second quarter as its mortgage originations climbed 17 per cent from a year earlier. Have to point out, however, that provisions for credit losses were up 207 per cent. We'll dig into the results and the outlook for the mortgage market with CEO Yousry Bissada at 4:10 p.m. ET.
https://www.bnnbloomberg.ca/the-daily-chase-toronto-housing-comes-roaring-back-earnings-bonanza-1.1476287