06 Jun

Kenyan Mortgage Lender Crumples as Banking Peers Rebound

A rebound in Kenyan banking stocks that’s driving most lenders to their first annual gain in three years is bypassing mortgage-provider HF Group Ltd. The company, which last month reported a 73 percent drop in first-quarter profit and had to borrow money to repay bonds, is the only one showing negative returns in 2017. HF’s woes show interest-rate caps imposed by the government late last year are spreading to the real-estate sector, while delays in being able to register properties also hurt sales, said Shaniza Kassam, a research analyst at ApexAfrica Capital Ltd. in Nairobi.

Read More: Bloomberg

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