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Mortgage lender Housing Finance’s net profit fell 81 per cent in nine months to September

Housing Finance (Photo: Courtesy)

Mortgage lender Housing Finance’s (HF) net profit fell 81 per cent in the nine months to September, weighed down by bad loans.

HF Group’s profit stood at Sh159 million, down from Sh837 million during a  similar period last year. The lender said yesterday the slowdown in the property market as a result of the prolonged electioneering period had led to the jump in defaults on loans.

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