Street Capital announced Wednesday it will continue as Street Capital Bank of Canada.
"Operating as a bank will provide our company with a significant competitive advantage, allowing us to better serve the mortgage broker channel and our base of over 130,000 valued customers," said Ed Gettings , Chief Executive Officer of Street Capital Group Inc. "With the team and infrastructure ready to go, we will begin taking deposits and launch our uninsured mortgage product suite in the coming months.”
Street Capital Bank is now a schedule I, federally regulated financial institution.
“While we are launching Street Capital Bank on the foundation of a market-leading prime mortgage business; in many ways, this is a new beginning for our company,” Gettings said. “As we are now operating as a Schedule I bank, we are positioned to continue to generate many years of sustainable growth, which we expect will drive substantial value for our shareholders over time."