Home Capital adding commercial law expert to board, veteran director to leave

TORONTO — Home Capital Group Inc. says its high-interest savings accounts rose Wednesday, a sign the cash-strapped lender may be turning itself around after customers began running away amid a funding crisis that erupted nearly a month ago.

The Toronto-based mortgage company said Thursday there was $120.2 million in its high-interest savings accounts as of Wednesday, up $3 million from the day before.

GIC deposits stood at $12.35 billion, almost unchanged from Tuesday.

Home Capital (TSX:HCG) has been trying to rebuild confidence among investors following a C-suite shakeup and an investigation by the Ontario Securities Commission into allegations it misled investors — accusations it denies.

Earlier Thursday, Home Capital announced the appointment of James Lisson to its board of directors.

Lisson has been an adviser to the federal government and comes with more than 30 years experience at two prominent law firms.

The Canadian Press

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