House Building Finance Company

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]

House Building Finance Company Limited
FormerlyHouse Building Finance Corporation
TypeGovernment
IndustryBanking
Founded1952 (1952)
Headquarters
Karachi
,
Pakistan
Number of locations
51
Key people
Mansur-Ur-Rehman (Chairman)
ProductsHome Financing
ParentState Bank of Pakistan
Websitewww.hbfc.com.pk

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. "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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