Mortgage lender Housing Finance (HF) #ticker:HFCK is looking to cost cutting after its net profit for the first nine months of the year plunged 81 per cent as non-performing loans swelled this year following the introduction of interest rate caps.
The group’s profit after tax dropped to Sh159.7 million in the nine months to September compared to the Sh837 million it made in the same period last year.
