The 67% cost to income ratio just puts me off on HF...the company is becoming too ineffient I.e Off the Sh1B operating income 70% of it was eaten by costs (Sh697M)...Something must happen there...

@funky It should be included, because how else can we explain other interest expenses being more than customer deposit interest expenses.

That bond is definitely inflating cost of expenses

what was the tenure on it again? How many more years to go?

@Funky and @the deal, you are reading from the same page and i think @the deal should just replace the 'hapana' with 'ndio'. The bond interest is accounted under other interest expense of 344M and its therefore included in the total interest expense of 697M.

Note that the bond is very important in a highly growing mortgage bank inorder to address assets liability mismatch. S & L have also been carrying the plan to sell a bond

These people is just abuse of office...last time I heard Serena CEOs and Mds took 6 charter flights to Elementeita...a place that you can get there even if you decide to walk!