HF profits drop by 2.7 per cent
30 October 2012, 11:45
Nairobi - Housing Finance (HF) has posted a 2.7 percent drop in profit - from KES 407 million to KES 396 million - in the third quarter of 2012.
According to Capital News, HF Managing Director Frank Ireri attributes the drop to high cost of credit for many customers.
He said the scramble for players to keep pace with credit growth in a high cost of funding environment led to an increase in interest rates for borrowers in the market.
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