Timbercreek Financial Corp. had an incredible Q1! They shattered records with a 44% YoY increase in revenue and a whopping 40% YoY growth in EPS.
The driving force behind their revenue growth was higher lending rates, which jumped from 6.6% in Q1-2022 to 9.7% in Q1-2023. With over 90% of their mortgages being floating rates, this surge played a significant role.
However, looking ahead, we expect rates to start declining in H2-2023 due to rising financial instability and cooling inflation.
Read the free analyst report: https://www.researchfrc.com/289096-2/
*FRC provides issuer-paid coverage.
*Past performance is not indicative of future results.