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 |
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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