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HFCK HY2017
Rank: Elder Joined: 12/4/2009 Posts: 10,699 Location: NAIROBI
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-Net profit decline by 74% from sh.612.5mn in 2016 t0 sh.159mn -Loans and advances decline from sh.54.9bn to 52.7bn -Customer deposits declined from sh.39bn to 37.3bn Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Haiya bad news!!! In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 6/23/2009 Posts: 13,521 Location: nairobi
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Angelica _ann wrote:Haiya bad news!!! Indeed, but the same was expected.. Though fortunately they are still in the black, which is a good thing. Everyone knew smaller banks will be brutalized by the rate cap
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,699 Location: NAIROBI
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Nairobi Securities Exchange listed integrated financial and property services provider Housing Finance Group (HF Group) posted half year after tax profit of Kes 159 million for the period ending June 30, 2017, representing a 74% decline compared to a similar period in 2016. Total Interest income declined by 18.2% over the period under review to Kes 3.68 billion down from Kes 4.497 billion recorded in 2016. Correspondingly, net interest income also declined by 25% from Kes 2.086 billion in a similar period in 2016 to Kes 1.559 billion. Total operating expenses increased by 8.6% on the back of increased provisions for the non-performing loans. Non-performing loans increased during the period to Kes 7.914 billion from Kes 5.363 billion in 2016 in what the company said was due to “stalled property transactions at the lands office and unfavourable macro-economic conditions.” “The drop in our performance is as a result of the prevailing impact of the interest rate capping law and the unfavourable macroeconomic environment that resulted in a significant drop in interest related income and an increase in interest related expenses,” said HF Group Managing Director Frank Ireri. Customer deposits declined by 6% to Kes 37.357 billion down from Kes 39.752 billion recorded in 2016. Loans and advances to customers also decreased by 1.3% from Kes 53.46 billion in 2016 to Kes 52.76 billion in 2017. The lender said it remains optimistic that the Group’s performance for the second half of the year will be positive as the property conveyance processing at the Ministry of Lands Registries is expected to normalize. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,110 Location: Nairobi
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Ericsson wrote:-Net profit decline by 74% from sh.612.5mn in 2016 t0 sh.159mn
-Loans and advances decline from sh.54.9bn to 52.7bn
-Customer deposits declined from sh.39bn to 37.3bn They should merge with Sidian  or Family Bank! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: New-farer Joined: 2/7/2016 Posts: 79 Location: Home
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This is a tough year for banks. Indeed, most companies in the stock market have recorded decline in earnings for 2016 and 2017.
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Rank: Veteran Joined: 8/28/2015 Posts: 1,247
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Mkondoa Macho wrote:This is a tough year for banks. Indeed, most companies in the stock market have recorded decline in earnings for 2016 and 2017. Thoroughly beaten. Over 30% decline come the year. This was not news at all. , who is still inside these burukeges ,Behold, a sower went forth to sow;....
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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muandiwambeu wrote:Mkondoa Macho wrote:This is a tough year for banks. Indeed, most companies in the stock market have recorded decline in earnings for 2016 and 2017. Thoroughly beaten. Over 30% decline come the year. This was not news at all. , who is still inside these burukeges @Obiero and many more  In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Member Joined: 12/17/2016 Posts: 225
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Angelica _ann wrote:muandiwambeu wrote:Mkondoa Macho wrote:This is a tough year for banks. Indeed, most companies in the stock market have recorded decline in earnings for 2016 and 2017. Thoroughly beaten. Over 30% decline come the year. This was not news at all. , who is still inside these burukeges @Obiero and many more I warned them, let them burn. Less than kes 200m profit for a mid tier bank? Yawn. Ireri should just eat humble pie and resign instead of giving press statements with false hope. At least his resignation will rally this counter. Reflection Eternal
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Rank: Elder Joined: 6/23/2009 Posts: 13,521 Location: nairobi
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Flo-ology wrote:Angelica _ann wrote:muandiwambeu wrote:Mkondoa Macho wrote:This is a tough year for banks. Indeed, most companies in the stock market have recorded decline in earnings for 2016 and 2017. Thoroughly beaten. Over 30% decline come the year. This was not news at all. , who is still inside these burukeges @Obiero and many more I warned them, let them burn. Less than kes 200m profit for a mid tier bank? Yawn. Ireri should just eat humble pie and resign instead of giving press statements with false hope. At least his resignation will rally this counter. Now if everyone sells, who will buy.. Lazima tushikilie some of these companies. We are all they have left
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: New-farer Joined: 2/7/2016 Posts: 79 Location: Home
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obiero wrote:Flo-ology wrote:Angelica _ann wrote:muandiwambeu wrote:Mkondoa Macho wrote:This is a tough year for banks. Indeed, most companies in the stock market have recorded decline in earnings for 2016 and 2017. Thoroughly beaten. Over 30% decline come the year. This was not news at all. , who is still inside these burukeges @Obiero and many more I warned them, let them burn. Less than kes 200m profit for a mid tier bank? Yawn. Ireri should just eat humble pie and resign instead of giving press statements with false hope. At least his resignation will rally this counter. Now if everyone sells, who will buy.. Lazima tushikilie some of these companies. We are all they have left Think like an investor, not a charity organization.
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Rank: Elder Joined: 6/23/2009 Posts: 13,521 Location: nairobi
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Mkondoa Macho wrote:obiero wrote:Flo-ology wrote:Angelica _ann wrote:muandiwambeu wrote:Mkondoa Macho wrote:This is a tough year for banks. Indeed, most companies in the stock market have recorded decline in earnings for 2016 and 2017. Thoroughly beaten. Over 30% decline come the year. This was not news at all. , who is still inside these burukeges @Obiero and many more I warned them, let them burn. Less than kes 200m profit for a mid tier bank? Yawn. Ireri should just eat humble pie and resign instead of giving press statements with false hope. At least his resignation will rally this counter. Now if everyone sells, who will buy.. Lazima tushikilie some of these companies. We are all they have left Think like an investor, not a charity organization. True. But real investors buy the bottom and sell the top.. We are at rock bottom. Go figure my friend. Meanwhile buy some KQ. Thank me end month
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,699 Location: NAIROBI
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On a Year-To-Date basis, Housing Finance Group (HF) is the only banking stock in the red zone (-16.12%) Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,521 Location: nairobi
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Ericsson wrote:On a Year-To-Date basis, Housing Finance Group (HF) is the only banking stock in the red zone (-16.12%) Weka link
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Member Joined: 4/14/2010 Posts: 806 Location: Nairobi
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When I looked at the result...I think I noticed that the Bank results were significantly better than the group results...meaning that the subsidiaries and the holding company are 'cannibalizing' the bank.
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Rank: Elder Joined: 6/23/2009 Posts: 13,521 Location: nairobi
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winston wrote:When I looked at the result...I think I noticed that the Bank results were significantly better than the group results...meaning that the subsidiaries and the holding company are 'cannibalizing' the bank. The company is not doing well.. Though Isaka's negative press issues almost killed HF https://www.hfgroup.co.ke/documents/Q2-2017.PDF
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Veteran Joined: 11/13/2015 Posts: 1,595
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winston wrote:When I looked at the result...I think I noticed that the Bank results were significantly better than the group results...meaning that the subsidiaries and the holding company are 'cannibalizing' the bank. In the good times the subsidiaries were contributing to the fat dividend. I want to give my investment here some time. At least outer-ring road is now almost complete so the property sales in Komarock will pick up. I hope the Lands CS Kaimenyi is shown the exit, gross non-performer at the lands office, everything is too slow
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Rank: Elder Joined: 6/23/2009 Posts: 13,521 Location: nairobi
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Everyone doubted HF, but this is a bold statement
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,699 Location: NAIROBI
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@ obiero Having taken another debt it was certain they will use that to repay Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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