October 23, 2014 12:50 PM ET

Thrifts and Mortgage Finance

Company Overview of Housing Finance Company of Kenya Ltd.

Company Overview

Housing Finance Company of Kenya Limited is engaged in the in mortgage lending business in Kenya. It operates through the Retail and Corporate segments. The company offers various savings products, including treasure, Daraja, 1st Hop, crossover, trust relief, and subscription bond accounts; transactional accounts; and investment accounts comprising call accounts, housing development bonds, fixed term deposits, and hybrid fixed term deposits. It also provides mortgage products that primarily consist of home owners’ mortgages, cyclical mortgage, home freedom mortgages, and employers sponsored schemes; and construction/project finance, such as single dwelling and multi development, and property...

Rehani House

Kenyatta Avenue

Koinange Street

PO Box 30088

Nairobi,  00100

Kenya

Founded in 1965

Phone:

254 20 317474

Fax:

254 20 340299

Key Executives for Housing Finance Company of Kenya Ltd.

Housing Finance Company of Kenya Ltd. does not have any Key Executives recorded.

Housing Finance Company of Kenya Ltd. Key Developments

Housing Finance Reports Earnings Results for the First Half of 2014

Housing Finance reported earnings results for the first half of 2014. For the period, the group’s total-interest income increased by 9% to KES 2.91 billion from KES 2.77 billion in 2012. The firm’s however posted an impressive 241% jump in total non-interest income to KES 506.29 million from KES 148.40 million as a result of contributions from its two key subsidiaries, Kenya Building Society and Housing Finance Insurance Agency.

Housing Finance Reports Earnings Results for the Third Quarter of 2013

Housing Finance reported earnings results for the third quarter of 2013. For the period, the company has posted a 58% rise in profit before tax of 894.7 million during the third quarter of 2013 up from KES 563.6 million, recorded in a similar period in 2012. Total operating income increased by 41% to KES 2.2 billion compared to KES 1.56 billion posted during a similar period in 2012.

Housing Finance To Raise Funds

Housing Finance Company of Kenya Ltd. intends to raise more funds in the second half of 2013. Housing Finance Company said that it would finalize plans for more funding in the next few months. Chief Executive Officer, Frank Ireri, told the Reuters Africa Investment Summit, "We will be looking to raise more money. Either we will do it locally or offshore or both." Ireri did not disclose how much Housing Finance was planning to raise.

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Company Name Region
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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 1, 2014
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