Housing Finance opens five branches as it marks golden jubilee

NAIROBI,KENYA:  Housing Finance has opened five new branches to support its business growth strategy.

The branches are located at Sameer Business Park – Mombasa Road, Skypark Towers - Westlands and Thika Road Mall in Nairobi, in Kitengela and Naivasha and together bring its total branch network to 17 branches and one sales center spread around six major urban Centres.

Speaking during the launch of activities to mark Housing Finance 50th anniversary, HF’s Managing Director, Mr Frank Ireri said the commercial banking strategy is taking shape and an additional seven new branches are set to be rolled out in 2015, in line with the business growth strategy.

“The strategy is aimed at increasing the range of products and services available to customers, who will now enjoy a one – stop shop solution for all their financial needs”, said Mr. Ireri. All HF branches now offer a composite range of products from Retail, SME, Corporate as well as recently launched Asset Finance, Insurance Premium Finance and Trade Finance products.

“Housing Finance commercial banking strategy has continued to positively impact the Group’s profitability and this has made it necessary for us to increase our physical footprint,” said Mr. Ireri.

Housing Finance, which is currently undertaking a rights issue, intends to raise its involvement in the supply side of middle and lower income housing, which in turn is expected to create significant mortgage lending opportunities for the company.