Housing Finance has reported a 27 per cent increase in profit after tax for the first half of 2016.
Net profit increased to Sh612.6 million from Sh485.1 million in the same period last year.
The mortgage lender attributed the growth to an increase in net interest income that rose from Sh1.71 billion to Sh2.09 billion in the review period.
In the six months to June, the loan book grew by seven per cent to Sh53.5 billion from Sh49.9 billion. Deposits increased from Sh37.4 billion to Sh39.8 billion on account of increased customer numbers.
Managing director Frank Ireri said the group also increased its holding of government securities from Sh516 million to Sh3.7 billion to take advantage of the improved yields.
http://www.the-star.co.k...-sh6126-million_c1400765"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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