House Building Finance Company
| Formerly | House Building Finance Corporation |
|---|---|
| Company type | Government |
| Industry | Banking |
| Founded | 1952 |
| Headquarters | , |
Number of locations | 51 |
Key people | Mansur-Ur-Rehman (Chairman) |
| Products | Home Financing |
| 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.
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