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UPDATE 1-Quest Capital posts Q3 loss

Fri Nov 6, 2009 6:50am EST

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* Q3 loss/shr C$0.03 vs EPS C$0.04 yr ago

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* Net interest income falls 77 pct

Nov 6 (Reuters) - Mortgage financier Quest Capital Corp (QC.TO) swung to a third-quarter loss, hurt by a surge in loan-loss provisions and a fall in net interest income.

The company reported a loss of C$5.2 million, or 3 Canadian cents a share, compared with net income of C$6.4 million, or 4 Canadian cents a share, a year earlier.

Net interest income fell 77 percent to C$2.7 million, while provision for loan losses more than trebled to C$8.1 million.

The company also said C$15 million of loans were monetized in the quarter, representing 8 loans repaid in full and 6 partial repayments.

Stocks of the Vancouver-based company closed at C$1.11 Thursday on the Toronto Stock Exchange. (Reporting by Koustav Samanta in Bangalore; Editing by Anil D'Silva)

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