Housing Finance eyes more growth in new strategy

Housing Finance Company (HFC), the banking and property finance subsidiary of HF Group, is implementing a strategic plan geared at lifting it into the top 10 banks in Kenya by 2020. Mr Sam Waweru, the managing director, said HFC has over the past one year laid a solid foundation that will propel it to the league of tier one banks.

“In the first half of this year, we have achieved some major milestones including growing customer numbers and deposits as well as rolled out new products. I believe that HFC is now on track to achieve our Vision 2020 ahead of the schedule,” he said.

Mr Waweru, who spoke while inspecting progress of the yet to be opened branches, cited the aggressive branch expansion plan, roll-out of alternative channels, profitability, dominance in the area of property financing, and a strong team as part of the solid foundation put together to stimulate growth.




“When we launched full banking services, we knew we were entering a highly competitive market with many dynamics for sustenance and success,” he said. “However the move was driven by the need to provide our customers with a one stop shop for all their banking and property finance needs.”s

In December 2015, HFC was ranked among the cheapest lenders by the Central Bank of Kenya, a factor Mr Waweru emphasises has enabled it to retain a broad base of loyal customers as benefits of low and favourable interest rates are always passed on to customers.

The banking services provider recently implemented a robust core banking system that has greatly supported both the business growth and roll-out of a wide variety of solutions to customers. The core banking system has seen a substantial investment in technology that aids the different arms of banking services.

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