Tusker Lite Neon Rave slated for Mombasa

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Tusker Lite Neon Rave slated for Mombasa

Staff Writer - October 29, 2019

Tusker Lite will be hosting the second edition of the Neon rave party this coming weekend (1st November 2019) at Mint Lounge in Bamburi-Mombasa. The...

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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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Tusker Lite Neon Rave slated for Mombasa

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HF Q1 profits rise to Kes 327 Mn

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