Kenya: Equity - We Want More of Housing Finance

Nairobi — Equity Bank has come out fighting over its Housing Finance ambitions, with the management saying it wants more than dividend from its investment. While outlining benefits that the mortgage firm could derive from it, Equity CEO James Mwangi just fell short of stating that the bank may make a full take over bid.

"We did not invest in Housing Finance to earn dividend," Mr Mwangi, said at a press conference at the bank headquarters in Nairobi, on Friday. "We are looking at possibility of greater collaboration." He was addressing investors during the release of the bank's trading results for the first quarter 2010. Mr Mwangi said that Equity hoped Housing Finance board is thinking on the same lines.

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