http://www.capitalfm.co....ong-2013-first-quarter/

Housing Finance has posted a net profit of Sh195 million in the first quarter of 2013, up from Sh133 million in the same period last year, representing a 46 percent increase.


Net loans and advances to customers increased 20 percent to Sh31.6 billion up from Sh26.4 billion.

Ngai!who was taking loans at that political climax.this is our year to eat.thanks i stay put.

This is the new Equity. Buy by the bucket loads if you have the cash. It will be a loooong time before we see 20 and below on this counter.

The diamond is finally out of the rough. Profit Before Tax up 46.60% y/y

The stellar performance is courtesy of the core banking business of lending. Net interest income is up 45.73% y/y (+12.71% q/q) benefiting from the lower interest rate regime which has enabled the bank to net higher interest income (+16.66% y/y, +0.58% q/q) while interest expense is down (-2.08% y/y, -8.83% q/q). Non interest income have also impressed by coming higher by 21.49% y/y. However, staff cost is a headache having surged 29.68% y/y (21.85% q/q) and other operating expenses (whatever this are ) continue to sting {up 66.64% y/y, 109.65% q/q). ...

.... The Balance Sheet too looks impressive

Loans and advances to customers have grown 19.77% y/y. Notice the growth in loan book started in Q3 2012 and this should keep going especially this year that the environment is good-looking. I fully understand and support their call for funds to keep the growth ON. Customer deposits are up 30.99% y/y and they also got substantial deposit in Q1 2013 which have contributed to the lower interest paid. The recently introduced current accounts are beginning to pay off and should continue to pay off with the expansion of the bank via new branches, agents and other customer delivery platform. …. The bank however needs to put Non Performing Loans (NPL) in check. They are up 79.17% y/y. Gross NPL/Loans ratio has increased to 8.5% from the 7.7% (Dec 2012), 6.9% (Sept 2012) and 5.7% (Jan - June 2012)