Housing Finance Managing Director Frank Ireri at a past investor
briefing. HF has posted 6.4 per cent on growth in net profit in the
first nine months to September 2014. FILE PHOTO | SALATON NJAU |
NATION MEDIA GROUP
By BDAfrica.com
Housing Finance
has posted a 6.4 per cent on growth in net profit in the first nine
months of this year helped by increase in both interest and non-interest
income.
The mortgage lender on Thursday said that
after-tax profit rose to Sh719 million for the nine months to September
from Sh676 million for similar period last year.
Interest income increased by
10.66 per cent to Sh2.18 million compared to Sh1.97 million over the
period ended September 2012, while non-interest income tripled to Sh692
million from Sh233 million a year earlier.
The lender’s loan book for the
nine months to September 2014 grew by Sh9.8 billion to stand at Sh43.3
billion from Sh33.5 billion last year.
Housing Finance stock at the Nairobi Securities Exchange closed at Sh47 Thursday having risen by 46 per cent this year.
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