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HomeEquity Bank Listed on the 2016 PROFIT 500

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TORONTO, Sept. 15, 2016 /CNW/ – Canadian Business and PROFIT today placed HomeEquity Bank on the 28th annual PROFIT 500, the definitive ranking of Canada’s Fastest-Growing Companies. Published in the October issue of Canadian Business and at PROFITguide.com, the PROFIT 500 ranks Canadian businesses by their five-year revenue growth.

HomeEquity Bank, the only national provider of reverse mortgages in Canada, placed 475 on the 2016 PROFIT 500 list, thanks to a five-year revenue growth of 80%. The company’s total revenues and number of employees have soared, while assets under management have climbed to $2.2 billion.

Celebrating 30 years in business, the company is in significant growth mode and leveraging product and channel innovation to sustain increases in total revenue. By reaching seniors via digital channels such as social media, as well as partnering with banks to extend reach, HomeEquity Bank has addressed the changing needs of today’s older Canadians.  In fact, 80% of HomeEquity Bank’s direct-to-consumer leads are obtained online.

Canadian seniors obtain reverse mortgages from HomeEquity to: address retirement planning; enhance lifestyle; and, address insufficient savings and inadequate pensions.

“HomeEquity Bank is honoured to be on the PROFIT 500 ranking,” said HomeEquity Bank CEO Steven Ranson. “Our reverse mortgage product is helping Canadian seniors remain in their homes, by allowing them to tap into the equity they have accumulated.”

“Companies become a part of the PROFIT 500 through innovative thinking, smart strategy and sheer grit,” says James Cowan, Editor-in-chief of PROFIT and Canadian Business. “These firms demonstrate what Canadian entrepreneurs can achieve, both at home and across the globe.”

About PROFIT and PROFITguide.com
PROFIT: Your Guide to Business Success is Canada’s preeminent media brand dedicated to the management issues and opportunities facing small and mid-sized businesses. For 34 years, Canadian entrepreneurs across a vast array of economic sectors have remained loyal to PROFIT because it’s a timely and reliable source of actionable information that helps them achieve business success and get the recognition they deserve for generating positive economic and social change. Visit PROFIT online at PROFITguide.com.

About Canadian Business
Founded in 1928, Canadian Business is the longest-serving, best-selling and most-trusted business publication in the country. With a total brand readership of more than 1.1 million, it is the country’s premier media brand for executives and senior business leaders. It fuels the success of Canada’s business elite with a focus on the things that matter most: leadership, innovation, business strategy and management tactics. We provide concrete examples of business achievement, thought-provoking analysis and compelling storytelling, all in an elegant package with bold graphics and great photography. Canadian Business—what leadership looks like.

About HomeEquity Bank

HomeEquity Bank is the only national provider of reverse mortgages to homeowners aged 55 and over, Canada’s fastest growing demographic segment. HomeEquity Bank originates and administers Canada’s largest portfolio of reverse mortgages under the CHIP Reverse Mortgage and Income Advantage brands. HomeEquity Bank has been the main underwriter of reverse mortgages in Canada since its predecessor, Canadian Home Income Plan, pioneered the concept in 1986.

For more information visit homeequitybank.ca or call 1.877.503.2447.

SOURCE HomeEquity Bank

Image with caption: “HomeEquity Bank (CNW Group/HomeEquity Bank)”. Image available at:http://photos.newswire.ca/images/download/20160915_C5781_PHOTO_EN_774227.jpg

For further information: on HomeEquity Bank, or to interview Steven Ranson, please contact: Teresa Donia, iAMBIC Communications, teresa@iambic.ca, 905-508-5550; Yvonne Ziomecki, Senior Vice President, Marketing and Sales, HomeEquity Bank, yziomecki@homequitybank.ca, 647-723-6812