House Building Finance Company

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House Building Finance Company Limited
FormerlyHouse Building Finance Corporation
TypeGovernment
IndustryBanking
Founded1952; 70 years ago (1952)
Headquarters,
Number of locations
51
Key people
Imran Ahad (MD)
Products
ParentState Bank of Pakistan
Websitewww.hbfc.com.pk

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[]

  1. ^ "HBFC has become bankrupt on account of low recovery of loans: minister". www.thenews.com.pk.
  2. ^ a b c d e "House Building Finance Company". www.hbfc.com.pk. Retrieved 2020-07-23.
  3. ^ Paracha, Shahzad (2020-08-21). "CCoP approves 7pc divestment in OGDC,10pc in PPL shares". Profit by Pakistan Today. Retrieved 2020-09-11.
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