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Housing Finance: HFCK a diamond in the rough
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obiero
#1 Posted : Tuesday, April 03, 2012 7:19:04 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,211
Location: nairobi
With a dividend yield of over 8% @ KES 1.20. Increased demand for quality housing by a rising middle class. And finally, the launch of their current account as a source of cheap deposits in addition to their successful bond issue.. This is the only stock worth looking at right now in terms of upside potential

KQ ABP 4.26
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jerry
#2 Posted : Tuesday, April 03, 2012 9:13:39 PM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
I was also wondering how far it'll go by books closer for the 0.70/= div. What do the other experts say?
The opposite of courage is not cowardice, it's conformity.
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FUNKY
#3 Posted : Wednesday, April 04, 2012 8:40:28 AM
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Joined: 4/30/2010
Posts: 1,635
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a4architect.com
#4 Posted : Wednesday, April 04, 2012 9:29:47 AM
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Joined: 1/4/2010
Posts: 1,668
Location: nairobi
Good idea for them to enter into JV with land owners. This will clearly set them far apart from their competitors.
As Iron Sharpens Iron, So one Man Sharpens Another.
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QD
#5 Posted : Wednesday, April 04, 2012 10:40:53 AM
Rank: Member

Joined: 8/5/2009
Posts: 597
a4architect.com wrote:
Good idea for them to enter into JV with land owners. This will clearly set them far apart from their competitors.


Knowing that you ar knowledgeable about this issues, how much has Suraya eaten into this business model of joint venture with land owners given the prime locations they are already holding.

This bearing in mind that HFCK has the financial muscle to compleet their projects faster than Suraya who will source for funds at higher rates to execute the joint ventures.
The problem with the world is that the intelligent people are full of doubts while the stupid ones are full of confidence
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a4architect.com
#6 Posted : Wednesday, April 04, 2012 10:52:51 AM
Rank: Veteran

Joined: 1/4/2010
Posts: 1,668
Location: nairobi
@ QD..Suraya is still a small player compared to market demand and HF Capacity.
Suraya has moulded himself from an architect to a developer. He can rival HF if he continues this process and moulds himself into a Mortgage bank. If he does that, he will give HF and other banks a run for their money owing to his ingenious solutions and ease of experimenting new ideas.
As Iron Sharpens Iron, So one Man Sharpens Another.
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  | | Edit by user: Wednesday, April 04, 2012 10:54 AM | Reason: Not specified
mwekez@ji
#7 Posted : Wednesday, April 25, 2012 9:01:52 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
HFCK QoQ

Loans and Advances are up 30% (20,365,783 to 26,460,052)
Interest income on Loans and Advances is up 46% (651,441 to 951,504)
Interest income on loans to other banks is up 107% (95,917 to 198,275)

But f*** the interest expenses,
Interest expense on customer deposits is up 245% (150,158 to 518,558)

However,
Profit before tax is up 11% (171,578 to 190,935)
Profit after tax is up 11% (120,124 to 133,376)

Good results. …and things will certainly get healthier when interest rates go down smile

Conclusion: HFCK remains a diamond in the rough

Numbers are in KES '000'
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mwekez@ji
#8 Posted : Wednesday, April 25, 2012 7:50:14 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Housing Finance turns focus to long term affordable funding

Housing Finance has now turned its focus to long term affordable funding to deliver affordable solutions for its middle to lower income target market. The firm recently launched its Current Account which is expected to broaden the firm’s funding base and reduce funding costs.

The firm also recently signed an international financing agreement for Kshs 2.2 billion with the European Investment Bank (EIB), for funding eligible SMEs in the construction industry. The firm is in addition in talks with other financiers for funding lines for the business, which should help it reduce reliance on short term deposits.
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mwekez@ji
#9 Posted : Wednesday, April 25, 2012 7:52:10 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
... and HFCK is the Best Bank in Mortgage Finance at the Banking Awards 2012
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mwekez@ji
#10 Posted : Thursday, April 26, 2012 9:25:36 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
mwekez@ji wrote:
... and HFCK is the Best Bank in Mortgage Finance at the Banking Awards 2012


http://twitter.com/#!/search?q=%23BankingAwards2012
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