Kenya Mortgage Refinancing Company Plc (KMRC) has released its audited financial statements for the fiscal year ended December 31, 2025. The results showed a balance sheet expansion tempered by a decline in bottom-line performance. The company’s total assets grew by 33.6%, rising from KES 32.32 billion in 2024 to KES 43.19 billion by the close of 2025.
This asset growth was matched by a 35.9% increase in total liabilities, which climbed to KES 37.35 billion. National government records provide additional context to this debt profile, identifying KMRC as a recipient of significant outstanding loans totaling KES 20.93 billion as of June 2024.
By the end of the financial year, the company had successfully refinanced KES 25.4 billion with a net value of KES 19.58 billion, facilitating 5,148 mortgages. These mortgages were distributed through 18 primary lenders, including both banks and SACCOs, and reached homeowners across 39 counties.
KMRC 2025 Performance
Despite the rapid scaling of its operations, KMRC faced a challenging environment for income generation. The net interest income declined by 19.6%, falling from KES 2.16 billion in FY 2024 to KES 1.74 billion in FY 2025. The profit after tax (PAT) saw a 24.2% drop, settling at KES 1.00 billion compared to KES 1.32 billion in the previous year.
These pressures on profitability can be attributed to the narrowing of interest spreads as the company continues to provide long-term, fixed-rate financing to its partner institutions at single-digit interest rates (below 10%) to support the national affordable housing agenda.
Even with the dip in profit, KMRC significantly strengthened its capital base. Total capital rose by 20.7% to KES 5.84 billion. This growth was driven by a robust accumulation of reserves, the revenue reserves increased by 31.8% to KES 3.84 billion, statutory reserves surged by 65.7% to close at KES 195.0 million and the share capital remained stable at KES 1.81 billion.
KMRC remains committed in its mandate of offering extended repayment terms of up to 25 years and financing of up to 105%, with loan ticket sizes reachjng KES 10.5 million. By sustaining robust capital buffers and broadening its refinancing reach, KMRC aims to supply primary lenders with the liquidity needed to make homeownership more accessible for Kenyans.
Follow our WhatsApp channel here, our Telegram channel here, and our X page here., and our LinkedIn page here.
Also read: I&M Group Profit Rises 24.5% to KES 19.8B as Dividend Jumps 25%
