Housing Finance Group posts Sh1.2 billion pretax profit

Kenya's HF Group, a mortgages-focused lender, posted a 10 percent year-on-year jump in its nine-month pretax profit to Sh1.2 billion it said on Tuesday.

The group, which also develops properties, said profit was buoyed by higher net interest income on the back of an increase in loans during the period.

Net interest income surged 15 percent to 3.1 billion shillings as loans grew 8 percent to 53.9 billion shillings.

It attributed the rise in lending to its "aggressive expansion strategy", for the banking subsidiary, without offering more details.