The bank has seen substantial growth over the past three years
HomeEquity Bank has been recently recognized once more in The Globe and Mail’s Report on Business ranking as one of “Canada’s Top Growing Companies”.
This was the third time that HomeEquity Bank has been cited for the award, mainly due to its three-year growth rate of 63%.
“Being recognized as one of Canada’s Top Growing Companies for the third time demonstrates the relevance and importance of our financial solution in Canada,” said Steven Ranson, president and CEO of HomeEquity Bank. “We are excited to continue fulfilling our purpose of helping Canadian homeowners aged 55-plus enjoy a financially secure retirement in the home they love.”
Read more: HomeEquity Bank appoints new board of directors
In 2021 alone, the bank reported more than $1 billion in reverse mortgage originations (up by 28% annually) for the first time. This growth pushed up the total value of HomeEquity’s reverse mortgage portfolio to $5.4 billion as of December 2021.
“In an uncertain world, the success stories of the companies marked in this year’s Report on Business magazine’s list of Top Growing Companies are a beacon of optimism,” said Phillip Crawley, publisher and CEO of The Globe and Mail.
