Housing Finance Bank

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Housing Finance Bank
Industry Financial Services
Founded 1967
Headquarters 4 Wampewo Avenue
Kololo, Kampala, Uganda[1]
Key people
Mathias Katamba
Managing Director
Products Loans, Checking, Savings, Investments, Debit Cards, Mortgages
Revenue IncreaseAftertax: US$2.54 million (UGX:6.45 billion) (2013)
Total assets US$220.1 million (UGX:558.4 billion) (2013)
Website Homepage

Housing Finance Bank (HFB) is a commercial bank in Uganda. It is one of the commercial banks licensed by Bank of Uganda, the national banking regulator.[2]


HFB is a full service retail bank that is primarily involved in mortgage banking. Founded in 1967 as a housing finance company, Housing Finance Bank became a fully licensed commercial bank in January 2008, having acquired a commercial banking license from Bank of Uganda. The bank is the leading mortgage lender in the country, with approximately 60% of all Ugandan mortgage accounts. As of December 2013, Housing Finance Bank was the 9th largest commercial bank in Uganda with an asset base estimated at approximately US$220.1 million (UGX:558.4 billion), and shareholders' equity of approximately US$42 million (UGX:106.4 billion),[3] representing about 3.5% of all bank assets in the country at that time.[4]


The bank is 50% owned by the National Social Security Fund (Uganda). The Government of Uganda, through the Ministry of Finance owns 45%. The remaining 5% is owned by National Housing and Construction Company (NHCC), a parastatal company jointly owned by the Government of Uganda (51%) and the Government of Libya (49%).[5] The bank had plans to list its shares on the Uganda Securities Exchange (USE) in 2012,[6] however, those plans have since been put on hold.[7] The current shareholding in the bank is depicted in the table below:

Housing Finance Bank Stock Ownership
Rank Name of Owner Percentage Ownership
1 National Social Security Fund (Uganda) 50.0
2 Uganda Ministry of Finance 45.0
3 National Housing and Construction Company 5.0
Total 100.0

Branch Network[edit]

Housing Finance Bank maintains its corporate headquarters and main branch at its newly constructed headquarters building on Wampewo Avenue, on Kololo Hill. The bank's former main branch is located on Kampala Road. Another branch within the Kampala Central Business District is located in Nakasero, across Nakasero Road from the Nigerian High Commission. There are two other branches in Kampala, one each in the suburbs of Namuwongo and Ntinda. In February 2009, the bank opened a branch in Mbarara in western Uganda. In March 2009, the bank opened its 6th branch is an area of Kampala known as Kikuubo.[8] In June 2009, the bank opened a branch in Mbale, its 7th nationwide, promising, at the opening ceremony, to launch Internet banking and rural mobile banking later in 2009.[9] In July 2009, Housing Finance Bank opened a branch in Arua, its 8th in the country.[10] As of April 2014, the bank maintains branches at the following locations:[11]

  1. Pearl Lounge Executive Banking Branch - 4 Wampewo Avenue, Kololo, Kampala
  2. Arua Branch - OB Plaza, 9-11 Adumi Road, Arua
  3. Fort Portal Branch - 4 Kyebambe Road, Fort Portal
  4. Garden City Branch - Garden City Mall, 64-68, Yusuf Lule Road, Kampala
  5. Gulu Branch - 26 Labwor Road, Gulu
  6. Jinja Branch - Beamteks Plaza, 68 Main Street, Jinja
  7. Kampala Road Branch - 25 Kampala Road, Kampala
  8. Kikuubo Branch - 15 Nakivubo Road, Kampala
  9. Kololo Branch - Investment House, 4 Wampewo Avenue, Kololo Main Branch
  10. Lira Branch - 4 Bazaar Road, Lira[12]
  11. Mbale Branch - Bugisu Cooperative Union House, 2 Court Road, Mbale
  12. Mbarara Branch - Classic Hotel Building, 57 High Street, Mbarara
  13. Najjanankumbi Branch - Pelican House, 1032 Entebbe Road, Najjanankumbi
  14. Nakasero Branch - 34A Nakasero Road, Nakasero, Kampala
  15. Namuwongo Branch -38 Kisugu Road, Namuwongo, Kampala
  16. Ndeeba Branch - 94-96 Masaka Road, Ndeeba, Kampala
  17. Ntinda Branch - 1 Kimera Road, Ntinda
  18. Ovino Branch - Ovino Market Mall, 22, Kibuga Road, Kisenyi, Kampala
  19. Tororo Branch - 11 Mbale Road, Tororo


Housing Finance Bank is governed by an eleven-person Board of Directors of whom four are Executive Directors and seven are non-executive. The Chairman of the Board is Keith Muhakanizi, one of the non-executive directors.[13]

Executive Management[edit]

Nicholas Okwir was the founding Managing Director of Housing Finance Bank. Okwir is a graduate of Namilyango College, one of the most prestigious high schools in Uganda. He holds a Bachelors degree in Commerce (BCom) from the University of Nairobi. He is also a Certified Public Accountant (CPA). He has worked at Housing Finance Bank since 1983 and has served as the Chief Executive at the same bank since 2002. He also served as the Chairman of the Federation of Uganda Employers, an industry organization.[14]

In April 2013, Mathias Katamba became Managing Director, succeeding Nicholas Okwir, who retired There are fourteen other managers with whom the Managing Director supervises the day-to-day activities of the bank.[15]

See also[edit]


  1. ^ Juuko, Sylvia (15 November 2010). "Housing Finance Gets 15 Billion Mortgage Fund". New Vision. Retrieved 25 April 2014. 
  2. ^ BOU (June 2015). "List of Licensed Commercial Banks As At June 2015" (PDF). Kampala: Bank of Uganda (BOU). Retrieved 16 December 2015. 
  3. ^ HFB, . (6 May 2014). "31 December 2013 Financial Summary". Housing Finance Bank (HFB). Retrieved 6 June 2014. 
  4. ^ Asset Allocation Among Ugandan Banks.
  5. ^ "Shareholding In Housing Finance Bank". Housing Finance Bank. Retrieved 25 April 2014. 
  6. ^ Kulabako, Faridah (17 November 2011). "Housing Finance Bank to List Shares At Securities Exchange". Daily Monitor. Retrieved 25 April 2014. 
  7. ^ Oketch, Martin Luther (17 February 2015). "They Promised To Sell Shares, What Happened?". Daily Monitor (Kampala). Retrieved 17 February 2015. 
  8. ^ Oneal, Nicholas (3 March 2009). "Housing Finance Goes To Kikuubo". New Vision. Retrieved 25 April 2014. 
  9. ^ Odomel, James (25 June 2009). "Housing Finance Opens Mbale Branch". New Vision. Retrieved 25 April 2014. 
  10. ^ Drasimaku, Richard (22 July 2009). "Housing Finance Bank Enters Arua". The Observer (Uganda). Retrieved 25 April 2014. 
  11. ^ "Branches of Housing Finance Bank". Housing Finance Bank. Retrieved 25 April 2014. 
  12. ^ "BOU Chief Urges Banks To Lower Interest Rates To Ease Borrowing". New Vision. 11 April 2011. Retrieved 25 April 2014. 
  13. ^ "The Bank's Board of Directors". Housing Finance Bank. Retrieved 25 April 2014. 
  14. ^ Kulabako, Faridah (6 January 2014). "Employers’ Body To Introduce Training Levy". Daily Monitor. Retrieved 25 April 2014. 
  15. ^ "Management Team At Housing Finance Bank". Housing Finance Bank. Retrieved 24 April 2014. 

External links[edit]