Kenya's HF Group warns of lower FY profit on declining interest income

Kenya Literature Bureau MD, Victor Lomaria and HFC MD, Sam Waweru sign a partnership agreement. [Photo: Courtesy]

NAIROBI  - Mortgage-focused lender HF Group Plc warned on Friday its 2018 net earnings would be 25 percent lower than the previous year, after posting a nine-month loss.

Declining interest income after a cut in the central bank rate led to lower lending rates, and higher non-performing loans weigh on its performance, the bank said in a statement.