Home Finance Company

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Home Finance Company
(HFC Bank)
Type Public
Traded as GSE: HFC
Industry Financial Services
Founded 1990
Headquarters Accra, Ghana
Key people Asare Akuffo
Managing Director[1]
Products Loans, Checking, Savings, Investments, Debit Cards
Revenue IncreaseAftertax:
Total assets US$234.3 million (GHS:435.3 million) (2011)
Website Homepage

Home Finance Company, commonly referred to as HFC Bank, is a commercial bank in Ghana. It is one of the commercial banks licenced by the Bank of Ghana, the national banking regulator.[2]

Overview[edit]

HFC Bank provides mortgage financing, commercial banking, investment banking and wealth management services. Regulatory approval is still pending for the bank to split into for divisions:

  • Banking Division
  • Investment Management Division
  • Private Equity Division
  • Real Estate Division

As of December 2011, HFC Bank was a medium-sized financial services provider in Ghana, with total assets valued at about US$234.3 million (GHS:435.3 million), and shareholders' equity valued at about US$53.8 million (GHS:100 million).[3]

History[edit]

The bank was created in 1990 as a shell company within Merchant Bank (Ghana). In 1994 HFC Bank became a publicly traded company. In 1995 it became listed on the Ghana Stock Exchange. The stock of the bank is a component of the exchange's GSE All-Share Index. According to the bank's website, the bank issued the Ghana Stock Exchange's first-ever corporate bond, in 1996.

Ownership[edit]

As of December 2003, the bank's stock is owned by the following corporate entities and individuals:[4]

HFC Bank Stock Ownership
Rank Name of Owner Percentage Ownership
1 SSNIT
2 Union Bank of Nigeria Plc.
3 Ghana Union Assurance Company Limited
4 State Insurance Company of Ghana
5 Financial Investment Trust
6 MIHL/Union Homes Savings & Loan (Nigeria)
7 MIHL/Union Homes Pension Find (Nigeria)
8 Ghana Reinsurance Company
9 HFC Unit Trust
10 Other Institutional & Individual Investors
T O T A L 100.00

Branch Network[edit]

HFC Bank has its headquarters in Accra, the capital city of Ghana. The branches of the bank and its subsidiary companies include the following locations:[5]

  1. Head Office - Sixth Avenue, North Ridge, Accra
  2. Ebankese Branch - Sixth Avenue, North Ridge, Accra
  3. Accra Central Branch - Kwame Nkrumah Avenue, Accra
  4. Ridge Branch - 6 Sixth Avenue, West Ridge, Accra
  5. Tema Branch - Asafoatse Kotei Commercial Complex, Tema
  6. Legon Branch - Noguchi Road, University of Ghana, Legon
  7. Kumasi Branch - 571 Asomfo Road, Kumasi
  8. HFC Investment Services Limited - 6 Sixth Avenue, West Ridge, Accra
  9. Tudu Branch - St. Francis Building, Kinbu Road, Tudu
  10. Abossey Okai Branch
  11. Techiman Branch
  12. HFC Realty Limited
  13. Agbogbloshie Branch - Old Fadama Road
  14. Tamale Branch - 8 Daboya Street, Tamale
  15. KNUST Kumasi Branch - KNUST Commercial Area, Kumasi
  16. Koforidua Branch
  17. Baatsona Branch - Spintex Road
  18. Ashaiman Branch
  19. Takoradi Branch - Market Circle
  20. Kasoa Branch
  21. Post Office Square Branch
  22. Adabraka Branch
  23. Suame Branch - Suame Magazine
  24. Swedru Branch
  25. Cape Coast Branch - Tantri
  26. Winneba Branch
  27. Asamankese Branch
  28. Dansoman Branch

External links[edit]

See also[edit]

References[edit]