House Building Finance Company
Formerly | House Building Finance Corporation |
---|---|
Type | Government |
Industry | Banking |
Founded | 1952 |
Headquarters | , |
Number of locations | 51 |
Key people | Imran Ahad (MD) |
Products | |
Parent | State Bank of Pakistan |
Website | www |
House Building Finance Company Limited (HBFCL), (ہاؤس بلڈنگ فنانس کارپوریشن لمیٹڈ) previously known as House Building Finance Corporation (HBFC), is a Pakistani housing finance company which is a subsidiary of State Bank of Pakistan. Founded in 1952, it is based in Karachi, Pakistan.[1][2]
Corporatization[]
The company was incorporated as a corporation on 25 July 2007 and is jointly owned by the State Bank of Pakistan (90.31%) and Government of Pakistan (9.69%).[2] On 18 February 2011 the name of House Building Finance Corporation was changed to House Building Finance Company Limited under section 39 of the Companies Ordinance 1984.[2]
The company is now an unlisted public limited company.[2] The company has 51 Branches, 7 Area offices, 3 Regional offices and Head Office based in Karachi.[2]
Privatization[]
The Cabinet Committee on Privatisation (CCoP) approved transaction structures for the privatization of House Building Finance Company Ltd.[3]
References[]
- ^ "HBFC has become bankrupt on account of low recovery of loans: minister". www.thenews.com.pk.
- ^ a b c d e "House Building Finance Company". www.hbfc.com.pk. Retrieved 2020-07-23.
- ^ Paracha, Shahzad (2020-08-21). "CCoP approves 7pc divestment in OGDC,10pc in PPL shares". Profit by Pakistan Today. Retrieved 2020-09-11.
- State Bank of Pakistan
- Financial services companies established in 1952
- Housing finance companies of Pakistan
- Companies based in Karachi
- 1952 establishments in Pakistan
- Pakistani company stubs