Pergamon recommends HF Group stock and reports 59.9 percent profit growth

Published on 10/14/2026 at 07:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half PBT rose 74.2 percent to KES 1.22 billion. For HF Group stock this means earnings per share of KES 1.06 versus KES 0.66.

Earnings and corporate direction

The September 24 recommendation rated HF Group stock a Long-Term Buy after profit after tax rose 59.9 percent.
First-half profit before tax increased 74.2 percent to KES 1.22 billion.
The report expects dividend resumption in March 2027.

HF Group, banking, first-half earnings, analyst recommendation, Nairobi Securities Exchange, Illustration mit AI erstellt.

Pergamon Investment Bank recommended HF Group stock as a Long-Term Buy on September 24, 2026, while its report said profit after tax grew 59.9 percent to KES 998.33 million from KES 624.34 million. The recommendation also covered first-half earnings per share, which rose to KES 1.06 from KES 0.66, giving the investor case a clear earnings anchor.

Three steps in the turnaround

On May 22, 2026, HF Group became HFCB Group, with the new identity covering the group and its banking subsidiary, according to Africa Digest News. The same report said the NSE ticker moved from HFCK to HFCB after the rebrand.

On August 28, 2026, second-quarter net income reached KES 522.8 million, up 76 percent from the comparable period, while revenue increased 33 percent to KES 1.81 billion, according to Simply Wall St. That quarterly result followed the first-quarter net income of KES 475.5 million, which was 45 percent higher year over year.

What does the profit jump mean?

Pergamon said first-half profit before tax rose 74.2 percent to KES 1.22 billion from KES 702.65 million, while total income increased 31.7 percent to KES 3.80 billion from KES 2.89 billion. The report linked the improvement to increased lending, lower financing costs and higher non-funded income, but also recorded a higher effective tax rate of 18.5 percent versus 11.1 percent.

Credit quality remains a measurable counterweight. KenyanStocks reported that the group raised its loan-loss provision by 30 percent to KES 273.9 million from KES 210.6 million in the first-half period.

Dividend outlook reaches March 2027

Pergamon expects dividend resumption in March 2027 as the earnings turnaround continues. For investors, the key tension is visible in the numbers: profit after tax advanced 59.9 percent, while the higher tax rate and larger loan-loss provision show that stronger earnings still carry balance-sheet and cost considerations.

Ticker now points to HFCB

HFCB Kenya identifies the group as HFCB Group Plc, a Kenyan banking and financial services company. Its listed ticker is HFCB on the Nairobi Securities Exchange, while HFCK remains the legacy code used in parts of the market.