HF Q1 profits rise to Kes 327 Mn

Thursday, September 18, 2025

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The increase in the operating income was more than the rise in operating expenses to Sh1.07 billion from Sh905. 2 million, helping HF to more than double its profit in the period where the sector’s earnings slowed. The performance defied an environment of falling interest rates on loans in line with sustained decline in Central Bank Rate. Returns on government paper have also been falling even as foreign exchange income also softened on the back of reduced volatility on the shillings’ exchange rate. HF booked an 87.6 percent rise in income from securities to Sh595.97 million from Sh317.9 million while income from loans and advances grew to Sh1.18 billion from Sh1.16 billion. Operating expenses were driven by a rise in staff costs to Sh511.22 million from Sh437.21 million, even as the provisioning for loan losses eased to Sh110.43 million from Sh109.1 million. HF’s total deposits rose by 16 percent to Sh50.11 billion from Sh43.75 billion, which the lender attributed to increased market confidence after the recent rights issue. The balance sheet grew by 18 percent to Sh73.4 billion.

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HF Q1 profits rise to Kes 327 Mn

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Equity Group posted Sh14.8 billion net profit for the first quarter ended March 2025, marking a 3.86 percent decline on the back of falling non-interest income. The net earnings retreated from Sh15.39 billion posted in the preceding similar quarter and came in the period net profit from subsidiaries in Rwanda, Uganda, South Sudan and Democratic Republic of Congo posted reduced earnings. The group’s non-interest income fell by 11.8 percent to Sh19.61 billion even as net interest income rose by 2.6 percent to Sh28.57 billion.

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UBA Kenya has appointed George O. Otieno as the new Chairman of the Board. The announcement follows regulatory approval and comes as the bank marks 15 years of operations in the country. The bank said Mr. Otieno’s appointment is a key step in strengthening its strategic growth in Kenya and the region. “His appointment marks a significant milestone in the bank’s journey,” the bank said in a statement. Mr. Otieno takes the helm at a time when UBA Kenya is pushing to expand its footprint and enhance its presence as a bank of choice for SMEs, corporates, government infrastructure development, and individuals. The bank said Mr. Otieno brings valuable experience in shaping policies and building local and regional partnerships.

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With just one month to go before the African Mining Week (AMW) conference, global mining stakeholders are preparing for industry-shaping discussions, deal signings and new partnerships at Africa’s premier gathering for mining stakeholders. Scheduled for October 1–3, 2025, in Cape Town, AMW takes place under the theme From Extraction to Beneficiation: Unlocking Africa’s Mineral Wealth, uniting African stakeholders with global partners to enhance investment flows across the mining value chain. AMW 2025 has confirmed the participation of six African mining ministers including Martin Gama Abucha, Minister of Mining for South Sudan; Winston Chitando, Minister of Mines and Mining Development for Zimbabwe; Kenneth Zikhale Reeves Ng'oma, Minister of Mining for Malawi; Teddy Lwamba, Minister of Hydraulic Resources and Electricity for the Democratic Republic of Congo (DRC); Emmanuel Kofi Buah, Ghana’s Minister of Lands and Natural Resources; and Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources. The ministers will engage in the Ministerial Forum, exclusive fireside chats and country spotlights, where they are expected to showcase policies aimed at attracting investments. The event will also feature high-level regulatory authorities including Moses Micheal Engadu, Secretary General of the African Union’s Africa Minerals Strategy Group and Khadidja Hassane Abdoulaye, Secretary of State for Petroleum, Mines and Geology for Chad. Sponsored by various stakeholders from across the industry, including the Africa Finance Corporation (AFC), Rand Refinery, Sidley Austin, OilDynamics, Moore Global and Power Trake, AMW will unite global investors with African projects. The event will feature investors such as the AFC, International Development Corporation of South Africa, African Infrastructure Investment Managers, World Mining Investment and Standard Bank, showcasing financing tools and strategies driving capital flows into Africa’s mining and infrastructure projects. In support of Africa’s mineral production increase agenda, AMW 2025 will feature leading mineral producers, showcasing industry milestones, ongoing projects and strategies for resource development and monetization. Participating producers include Implats, Valterra Platinum, Ivanhoe Mines, Pensana, B2Gold, First Quantum Minerals, Goldfields and Typhoon Greenfield Development. In addition, downstream players such as Rand Refinery – one of the world’s largest integrated metal refining facilities – Isondo Precious Metals, Toyota SA and others will highlight value-addition strategies in support of Africa’s beneficiation and local processing drive. AMW will also spotlight the energy–mining nexus, featuring insights from Francesco La Camera, Secretary General, International Renewable Energy Agency, and representatives from renewables firms JUWI, Solink and energy services company OilDynamics. The conference will run in parallel with African Energy Week: Invest in African Energies, creating a platform for collaboration between energy and mining stakeholders. AMW 2025’s three-day agenda will also feature contributions from research institutions, academia and legal experts, including S&P Global Insights, Columbia Business School, Chatham House, Sidley Austin, Moore Global, Minexx, and Project Blue, who are expected to shape discussions on policy, market trends and the future of African mining. The event will also feature an exhibition space, showcasing technologies, services and expertise from across the mining value chain. With one month to go, stakeholders have time to secure their place at Africa’s premier mining event. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

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